Buying luxury property in Greece offers several advantages beyond the standard real estate investment.
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.
With luxury property there is often a strong investment potential as luxury properties usually appreciate well over time, especially if purchased in prime locations.
Real estate, particularly high-end like luxury homes, tends to keep pace with or outperform inflation, and has proven to be so over time. Plus as an investment purchased and then rented out, can often generate significant rental income, especially in sought after vaction area or international business hubs.
Luxury homes, especially in sought after locations such as vacation areas, often come with private pools, gyms, smart home technology, and overall provide a superior living experience to owner and renters, plus luxury homes are often found in prestigious locations, and areas that are seen to be safer
Due to the price homes such as these, they are often architecturally unique, come as custom designs and contain high-quality materials that make luxury homes visually stunning, built to last, and hold value.
Gated communities that feature upscale luxury homes usually are in more secure areas with 24/7 surveillance and restricted access, come with larger plots, private entrances, and secluded locations ensure a more private lifestyle.
Luxury real estate is often seen as a status symbol, and ownership can open doors to elite social circles, events, or exclusive clubs, plus as an asset luxury real estate adds tangible wealth, can be seen as an investment diversification to an investment portfolio.
International investors can diversify geographically by owning luxury homes in different countries, such as Greece, and focusing on luxury Greece property by owner can provide cheaper properties serving as valuable assets for the future and potential immediate capital appreciation by buying for a lower price as agent fees are not included.
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.
