UK Investors Look To Snap Up Real Estate In Greece

According to research by Astons, the international experts in real estate, residence and citizenship through investment, the Cyclades, Lefkada, Kefalonia and Athens are currently the most expensive pockets in the Greek real estate market.

“It is clear why Greece has become an area of ​​intent for UK investors in a wide variety of sectors. Not only are the pace of life and the climate more favorable, the most prestigious areas of the Greek real estate market are also incredibly good value for money compared to London, ”said Arthur Sarkisian, Managing Director of Astons.

Investing in the Greek property market could be a smart choice as property prices across the country have increased 2.7% in the last year alone, from an average of € 127,596 to € 131,040 for the average property.

“We expect this interest in Greece as a preferred investment destination to grow in the coming months, especially when it comes to UK investors, even though the nation is attracting the attention of a global audience,” he added.

British investors want to buy real estate in Greece

The most desirable area of ​​the Greek market is the Cyclades, where the average property price is currently € 222,348. Not only does the region boast world-class property prices that are 85% lower than Kensington and Chelsea in London, but property prices are up 6% over the past year.

In Lefkada, prices also rose by 8.7% to an average of € 165,000.

In Athens – the fourth most expensive area in the country – residential property prices rose 3% to an average of € 157,415.

The Covid-19 pandemic may have broken the uptrend in the Greek real estate market, but brokers expect a comeback once the virus recedes.

Greece plans to make it easier for foreigners to buy real estate

New incentives for foreigners with funds to live in Greece – skipping many in the diaspora who cannot afford the terms of programs like golden visas and shifting their tax base are being considered by the New Democracy government.

If you want to buy a property in Greece you should contact a legal advisor: http://lawandmediation.gr

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