The rise of the Greek Real Estate

Aspasia Athinaiou
January 4, 2024

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Foreign Investors Inject Over a Billion Euros into Greek Real Estate: Record Demand

Foreign investments in Greek real estate reached over one billion euros in the first half of the year, and the demand for real estate is growing at record rates.

From January to June of the current year, foreign investors poured over €1.1 billion into Greek real estate, which is 39.5% more than the previous year when foreign investments amounted to €788 million.

Data provided by the Bank of Greece shows that investment growth accelerated, particularly in the second quarter, with €605.8 million invested, marking a 46.2% increase compared to the previous year. Throughout 2022, foreign investors invested over €2 billion in Greek real estate, which is 68% more than in 2021.

This growth can be attributed to several factors. Firstly, Greece remains attractive to foreign investors due to the opportunity for short-term property rentals. Secondly, the demand for obtaining residency permits through the “Golden Visa” program remains high. Finally, Greek real estate continues to be more affordable compared to many other countries.

It is also worth noting that the demand for Greece’s “Golden Visa” among foreign investors increased by 152% in the period from January to July 2023, just before the Greek government doubled the minimum purchase price for property in some of the country’s most popular areas.

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