1. Home
2. Blog
3. News
4. The attractiveness of the Greek property market has increased enormously!

The attractiveness of the Greek property market has increased enormously!

---

 

The difficult years of the financial and economic crisis in Greece are over. Greece is attracting the attention of foreign investors because the country has successfully entered a new era. The economy is recovering, exports and tourism are booming, privat

The Greek government is endeavouring to make Greece an even more attractive investment destination by reducing taxes, cutting red tape and pushing ahead with major investment projects.

The average growth in house prices in Greece in 2023 was 13.4% compared to 2022. Market analysts' forecasts for the next five years suggest that the upward trend in Greek property will be at least 5% per year.

 

There are good reasons why buying property in Greece in particular is a very lucrative investment with many advantages

• Property prices in Greece are still very favourable compared to the rest of Europe. Due to the financial and economic crisis in Greece, property prices fell by more than 40% between 2009 and 2019. This means that there is plenty of scope for property appreciation in the coming years.

• In order to make Greece more attractive as an investment location, politicians have reacted decisively in recent years and lowered the property transfer tax from 10% to 3%.

• The ancillary purchase costs are very low compared to other European countries (approx. 7.5%).

• In addition to holiday homes and flats as capital investments, urban properties are also very popular with investors. Furthermore, high yields make Greek houses attractive. Yields of over 5% or 6% are common in many regions of Greece.

 

To summarise briefly: The prospects for the economic development of Greece and the property market in particular over the next few years are excellent.

Anyone investing in property in Greece now can not only expect good rental yields. Buyers can also expect an enormous increase in the value of their property. Now is the right time to invest in the Greek second home market.

 

Find 👉your dream property in Greece now with FERIMMO: the leading platform for Greek property!