Buying luxury real estate in Greece for personal use or as an investment will be down to each individuals financial goals and needs.
Owning a luxury piece of real-estate may come with a swimming pool, home theater, gym, and much more, and can serve as status symbol to the owner.
Greece has the twelfth longest coastline in the world at 13,676 km (8,498 mi) in length, featuring a vast number of islands (approximately 1,400, of which 227 are inhabited), including Crete, the Dodecanese, the Cyclades, and the Ionian Islands among others with Mykonos and Samos being a particular favourite for vacationers. Eighty percent of Greece consists of mountains, of which Mount Olympus is the highest at 2,917 m (9,570 ft).
Greece has land borders with Albania, the Republic of Macedonia and Bulgaria to the north, and Turkey to the east. The Aegean Sea lies to the east of mainland Greece, the Ionian Sea to the west, and the Mediterranean Sea to the south.
Modern Greece traces its roots to the civilization of ancient Greece, generally considered the cradle of Western civilization. As such, it is the birthplace of democracy, Western philosophy, the Olympic Games, Western literature and historiography, political science, major scientific and mathematical principles.
Buying luxury real estate in Greece for personal use or as an investment will be down to each individuals financial goals and needs.
Owning a luxury piece of real-estate may come with a swimming pool, home theater, gym, and much more, and can serve as status symbol to the owner.
Luxury properties purchased in sought-after areas can appreciate in value as part of a natural capital appreciation, even if not using the real estate as an investment tool.
As an investment though, rental income short or long, can yield high returns in luxury markets, especially homes purchased in high-demand locations.
High-net-worth individuals worldwide are often interested in luxury properties in key cities such as located in Greece, and this international buyer demand can keep property values stable or even rising.
While demand for luxury real estate is always present, economic changes both locally and internationally can affect values, and legal paperwork for an international investment can be more complex.
If considering buying a luxury real estate Greece investment or for personal use, always perform due diligence and use lawyers to manage the purchase agreements.
Choosing a luxury real estate Greece investment by location and type is also down to the investors aims and end financial goals, be it regular rental income, capital appreciation or both.
If looking at Greece as an overseas or foreign investor or buyer into Greek real estate, those who typically invest or purchase at €250,000 to €800,000, which varies according to the area chosen, can obtain Greek residency through the Golden Visa Program, making Greece an attractive gateway to the EU.
Greece, which is deemed as affordable when compared to other luxury property markets, can offer high-end real estate at lower price points than hotspots like the French or Italian Rivieras, still with excellent growth and demand, and Greece offers many buyers the attraction of purchasing into the Greek lifestyle that has a great appeal, where buying through a real estate agent or buying direct from the owner.
Greece offers both stability and opportunity to buyers and investors, as tourism to Greece brings in over 30 million visitors across the mainland and the Greek Isles.
With the Golden Visa residency as an option those buying for personal use or as an investor in Greece real estate, whether the aim is short-term rental income, capital gain, or a mix of personal use and renting for income should be considered.
