Why Should You Invest in Real Estate of Greece?

For a person, it is not an easy decision for him to invest in a foreign country. Especially if it Greece who has been in all over the news for its economic slowdown; though there many real estate agencies in Greece for his help. Some of their common queries are like

• Isn’t Greece “in trouble”?
• Are there good deals for people looking to sell?
• Have the prices hit rock bottom?
• What happens if Greece leaves the Eurozone?
Fear not, the government of Greece has been pushing for better governance to better the situation. Some elucidations are the removal of restrictions many capitals on Greek citizens and banks, an additional IMF bailout, subsidization of limited mortgage lending.
1. Economic recovery

The economic Centre and capital Greece is generating 19.9% of the nation’s GDP which is performing better than any European Union capital. The darkness of the economic slowdown that began in 2008 has started receding. The gross domestic product of Greece grew by 1.4 %. Unemployment has declined to 21.5% in 2017 in Greece.

2. An increase in the number of tourists

Thanks to well-preserved monuments and rich cultural heritage, Greece has attracted most tourists it ever had. Capital city Athens and other famous cities including Heraklion has seen a surge of international tourists. Many property management companies in Greece emerged to welcome them and provide affordable accommodations.
Athens is one of 20 European cities where international tourists spend a minimum of one night at their destinations, according to MasterCard.

3. Low prices with a potential for growth

Properties in Capital city of Athens are cheaper than the other capital cities of Europe: 3 times cheaper than Berlin, Madrid, and Lisbon; 5 times cheaper than Vienna and 8 times cheaper than Paris.
According to an IMF data, the property prices in Athens are showing annual growth of 5% from 2013 to 2017. Real estate services in Greece are all-time high the property prices are approximately 40% lower than 2008.
4. Residency Permits to Non-EU Citizens

Greece has started to offer residency permits to non-European Union citizens who rent or purchase real estate property of which value exceeds than 250,000 Euros. It is a good start to push the real estate Market of Greece which has seen 40% reduction in home values since. Israelis and Russians are the top targets of the real estate agencies in Greece, who are enthusiastic about investment here because of the low property prices.

Medusa Management is the best real estate company in Greece which deals in rental properties, sales/purchase, property management and mortgage services. We are ready to help with anything in real estate market whether it’s a small apartment purchase in Athens or investment opportunities

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