The pandemic has caused a drop of tourism in Greece, but the holiday home market is still blooming. Luxurious real estate is mostly in demand.
Customers are seeking safe property, as a response to the coronavirus pandemic. Privacy and safety are more important than ever before.
Greece can now reap the fruits of its successful coronavirus strategy.
“Foreign citizens are looking for a shelter from the virus in Greece”, German and Greek media have reported the last few days (Handelsblatt 21/06/2020). The country ranks in the lowest positions with regard to coronavirus cases among all European countries in the Mediterranean. Queries by foreign prospects have increased by almost 20% in April, in comparison with the previous year. Demand is particularly strong in Germany, ranging at almost 23% higher than last year, with the number of interested parties in Germany increasing even by 50%.
It seems that a multitude of positive factors are currently at play, ensuring strong growth in the Greek real estate industry. The financial crisis years are over and the systemic changes have made room for new things.
There has never been a better moment to buy cheap property in Greece than right now! Acquisition of Greek real estate by German buyers is estimated at over 11 billion euros, with prospects for growth to up to 15 billion euros in the next decade.
In comparison with the rest of Europe, property prices in Greece are currently very cheap.
In order to make Greece more attractive as an investment location, politicians have reacted decisively in the past months, reducing the real estate transfer tax from 10% to 3%. The incidental purchase costs are at a very low level compared to other European countries (ancillary costs around 7%).
The interest of German buyers in investments in Greece is also growing rapidly:
The above data is supported by the traditionally strong economic relations between Greece and Germany and the large number of German tourists who visit Greece each year (3.8 million German tourists in 2018).
Ferimmo is the meeting point for buyers and sellers of real estate in Greece and provides you with a large selection of exclusive real estate offers and lots of useful information about buying real estate in Greece. Through our platform, you can make your dream of living in Greece come true!
Ferimmo has put together information on the most important areas that you absolutely have to consider.
These include the purchase process step-by-step, the documents you will be needing and experts to help you along the way.
We also help you expand your knowledge of important issues, such as taxation and costs when buying property in Greece.