According to statistical records by the Bank of Greece, demand in Greek properties showcased an increase during the second trimester of 2021, estimated at 4,65% in comparison to last year. The Greek property market has presented an inclining course, involving Greek buyers, but also third-country citizens who wish to benefit from the investment opportunity and acquire the famous Greek Golden Visa. According to Greek legislation, foreign citizens can acquire a property valued at 250.000 euros through a simple step-by-step procedure and enjoy all advantages granted by the Greek Golden Visa scheme, including their wider family circle in this process.
The observed increase can be further analyzed at a 4,7% in new properties, viz. properties not older than 5 years, and a 4,6% in older properties. Τhe Greek Energy Saving scheme “Exoikonomo” is worth noting, since thanks to this scheme a brand new category of properties appeared, with old residencies and apartments being upgraded from an energy perspective and therefore attracting interest. According to the Bank of Greece records, the most significant boost during the b’ trimester of 2021 was noted in Athens and Thessaloniki, with a 6,4% and 4,1% increase respectively, while other major cities followed with smaller percentages.
The selection procedure by potential buyers can be based in multiple criteria, while the latest data show a preference in properties located in corner buildings, ideally close to open-space areas (ex. parks), usually around 60-100 square meters, with low energy consumption and characterized as of high energy efficiency. The fact that a property purchase, valued at 250.000, can lead to the acquisition of Greek Golden Visa, has significantly contributed to the increase in Real Estate demand during the past years. Greece’s Residence by Investment program (RBI) is one of the most successful and attractive schemes around the world since a property purchase within the Greek region is -besides all other benefits- a wise investment move. According to market key-players, the inclining course of properties in Greece is expected to continue during 2022, since Real Estate is considered a safe investment with high efficiency.