The birthplace of modern civilisation, the home of the world’s first recorded democracy, has become a thriving multicultural society in the heart of the E.U.

There is little not to like about Greece as a place to call home. Let’s dive in and look at the steps required to make that happen and the investment opportunities Greece provides.

Investing in real estate in Greece is the first step towards European Union citizenship with the residence permit program.

In 2013, the Greek government launched the Greek residency program, which allows real investors to obtain residence permits by making real estate investments.

Since then, the Golden Visa Program has been considered one of the most affordable in Europe and among the most sought-after worldwide. Greek Passport – one of the most popular (8th in rank) passports worldwide.

If you don’t sell the real estate you bought in Greece, it can be self-renewed every five years thereafter.

Greek Residency by Investment, or Greek Golden Visa Program as it’s commonly known, was introduced by the Greek Government in 2013

Since then, the Golden Visa Program has been considered one of the most affordable in Europe and among the most sought-after worldwide. Greek Passport – one of the most popular (8th in rank) passports worldwide.

Hotel Room Investment Projects

Hotel room investment is a rapidly growing and unique type of property investment in Greece. Upon buying a hotel room, the property is registered in the name of the buyer on the land registry. The room is yours, and you start earning an income from day one by leasing the use of the room to the hotel. Hotel room investments provide investors with a great opportunity to buy a hands-off investment as the room will be managed by a professional hotel management company that is responsible for its day-to-day running.

This offer is not a timeshare. Buying a hotel room replicates the buy-to-let market very well but with much shorter-term tenants.

As it is part of a hotel, it is up to the hotel management team to advertise and fill the room, take care of the booking, collect the fee and clean the room and as this is all part of the contract, there are no extra hidden fees to pay. Effectively, they do all the work and then pay you the money that you are owed.

Benefits of a hotel room investment

• Unique investment opportunity to invest money in fully licensed high-end hotels.
• Investors typically earn 50% of their income from occupancy.
• A good alternative to investing in a flat or house in a popular tourist area.
• Depending on the demand of guests, you can adjust pricing and renovate to suit them better.
• Vacancy won’t be a problem, which means there will likely be very few vacancies and no delinquencies.
• Profitable for long-term investment
• It is a hassle-free turnkey investment that gives a high rental return.

Micro Apartment Investment Projects

A micro apartment is a small, self-contained, single-occupancy apartment typically located in an urban area. Micro apartments are usually about half the size of an average one-bedroom apartment but sometimes can be as small as a hotel room. Micro apartments usually include space for sleeping, a kitchenette, limited shelves or cubbyholes and a bathroom. Residents may sometimes share access to a full kitchen, living room, laundry facilities and a garden.  Many “tiny living” apartments are designed with space-saving furniture, such as beds built into walls, futons that convert into other furniture, built-in storage space, folding desks and tables, and extremely small or hidden appliances.

Student Housing Investment Projects

Student housing is important to any university or college student’s life. Wherever there is an institution of higher learning, there will always be a demand.

• The close proximity to the university campus
• Shortage and/or outdated dormitories
• Student shows signs of recession-resistant characteristics
• Students are staying in school longer

Types of Student Housing Investments

There are various types of student housing investment properties that people can choose to invest in that could offer various benefits. 

Common questions about investing in Greece

Is buying property in Greece a good investment?

Greece has become a favorable investment destination in the last few years, mainly because of its natural beauty, mild climate and geographical position, but also because of a significant drop in prices following the financial crisis that emerged after 2010. You worked a lifetime (and keep working) hard and now you get a chance to enjoy the labors of a lifetime. And which is the best destination for that purpose if not the “land of Gods”, Greece, with its countless islands, beautiful countryside, stunning beaches and mountains. Greece offers a unique opportunity for investment, as the economic crisis led to a drop in prices by 40% in real estate. It also offers a wide range of property, capable to satisfy every desire.

Can a foreigner buy property in Greece?

Can foreigners buy property in Greece? Yes, however it’s easier for some than others. While EU residents will run into almost no restrictions on purchasing connections to the country and their intent for property use

Documentation for registration of real estate:

1. Valid international passport
2. Valid visa that allows entry to Greece
3. List of documents for opening a bank account in Greece:
4. Valid international passport
5. Valid visa that allows entry to Greece
6. Document confirming permanent residence (internal passport of the country of residence)
7. Letter of employment confirmation (official document confirming the main professional activity of a potential buyer, the kind of which has no importance)
8. Copy of the tax return

Costs

1. Lawyer’s fees are 1.5% of the property price stated in the Property Purchase Contract (actual or cadastre price depending on the buyer and seller’s agreement) plus 24% VAT
2. A Notary fee, as a rule, is approximately 1.5% of the property price stated in the Property Purchase Contract plus 24% VAT
3. The Title of ownership tax amount depends on when the construction permission was granted. If it was granted prior to 2006, the tax payable is 3,09% cadastre price.
4. If it was granted after 2006, the tax payable is 24% cadastre price. The property registry fee is 0.5% cadastre price. The Company fee is not included in the property price, and it amounts to 2% of its actual price plus 24% VAT.

Real estate agents

You can buy an investment property by yourself in Greece. However, working with a real estate agent is strongly recommended. Our agents will walk you through the whole process and secure your residency for Greece. We can also secure pre-approval for a loan, find an attorney, negotiate a deal, close a deal, and much more.

If you are interested in securing your residency in Greece we look forward to hearing from you. Our friendly team of experts would be happy to discuss next steps.