BENEFITS

Golden Visa, High Airbnb Profits & Affordable Properties

Legal & Regulatory Factors: No restrictions on foreign ownership. Golden Visa for €250K+ property investment (lowest in the EU).

Financial Considerations: Affordable property prices compared to other EU nations. Property taxes exist but are lower than in Western Europe. High potential for appreciation, especially in Athens, Santorini, and Mykonos.

Location & Infrastructure: Strong tourism sector fuels short-term rental demand (Airbnb-friendly). Infrastructure improving but not as modern as UAE.

Property-Specific Factors: High ROI from short-term rentals (~7-10% in key tourist spots). Some older properties may need renovation.

Cultural & Social Aspects: Friendly local community, rich history, and great climate.

Briefly, Greece is good for Golden Visa seekers and Airbnb investments, but economic stability can be a concern. However, one can certainly benefit from the Low-cost EU entry, strong short-term rental income, and Mediterranean luxury.

PROPERTIES

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Legal Framework

Greece imposes minimal restrictions on foreign property ownership. Both EU and non-EU citizens can purchase property, though non-EU residents may need to apply to the Ministry of National Defense, demonstrating their connections to Greece and intentions for property use.

Golden Visa Program

A significant incentive is Greece’s Golden Visa program, granting a five-year residency permit to non-EU nationals investing in Greek real estate. As of August 2023, the minimum investment thresholds are:

€250,000: Applicable in most regions.

€500,000: Required for properties in central Athens, Thessaloniki, Mykonos, and Santorini.

€800,000: Implemented in August 2024 for certain prime areas.

Potential Risks

Market Fluctuations: Economic conditions can impact property values and rental yields. Legal Compliance: Ensuring all legal requirements are met is crucial to avoid disputes. Due Diligence: Thoroughly vet properties to confirm clear titles and compliance with zoning laws.

Insights

Investing in Greek property can be rewarding, offering both financial returns and residency benefits. However, it’s essential to understand the legal requirements, financial implications, and market dynamics. Engaging experienced local professionals and conducting comprehensive due diligence will enhance the success of your investment.