Where to invest in the Greek real estate market?
26 September, 2022
The attractivity of Greek real estate market is well known and has become even more relevant since the country regained all its autonomy now the European control mechanisms created in place by the infamous “troika” is over.
The real estate supply has regained strength and vigor, both for old and new properties. For the past two years, we have witnessed a resumption of real estate programs for housing, leisure or tourism. The conversion project of the former Athens airport "Elleniko" is, by far, the demonstration of the optimistic revival in the real estate market in Greece.
But this recovery in the real estate sector is taking place with measure and caution, considering the lessons to be noticed after the crises and real estate bubbles. It is therefore a very Greek wisdom which consists in not following the excesses of speculation. The confidence of buyers and investors can therefore be strengthened.
This well-managed confidence and optimism make possible to meet growing demand for various goods, whether apartments, tourist facilities or complexes intended for economic activities.
You will be able to explore the opportunities in the districts of Kolonaki, Thissio, Mets and Pagrati, to name a few.
The pandemic has, we can see, refocused touristic flow on the European continent and Greece is able to welcome the increase in the number of tourists and new permanent or part-time residents.
Thus, the option for a quickly profitable and efficient investment target Athens and its outskirts. The central districts are the most popular, but also the most expensive. We should not therefore despise certain neglected neighborhoods or neighborhoods with a bad reputation in the past, because gentrification is gaining on every day and new development, requalification or construction programs are flourishing in areas that were still unlikely until recently. Prices are also very competitive in these sectors.
Whether you want to buy for yourself, to offer one or more properties for short or long term rental or to invest in investment property in Athens or its suburbs, a good professional real estate will be able to help you sort through market offers, information and opportunities by giving you the best advice to succeed in a winning project for the future.
There is also the possibility of choosing the luxury of a position by the sea since Greater Athens extends, to the south, to the Riviera on nearly thirty kilometers of beaches, marinas and beach equipment. This coastline is very popular as a beach town and whether you live there temporarily or permanently, it is a feeling of a lifetime vacation that warms the hearts of residents. In addition, these neighborhoods are very profitable for investors as demand is high and constant.
Many national and international celebrities still reside there or have left their mark there forever.
All you have to do is to pronounce the names of Vouliagmeni, Varkiza, Glyfada or even Voula to provoke an approving reaction from your interlocutor.
At this point in our exploration of where to go, we have to look at the many and diverse Greek islands.
Obviously, seasonality leads naturally to the consideration about an investment in tourist sector or in a property intended for holidays.
Of course, you can offer for rent your holiday home when you are not there. If it is a question of investing in tourist equipment, profitability can prove to be promising insofar as the season is longer than anywhere else and that attendance is set to grow in the years to come.
If it were necessary to look at each island, it would be necessary to write an entire book as they are numerous and have particular attractions.
Among the 227 islands of the country, we will be able to try to define several categories for a first choice according to the priorities and preferences of the buyers.
A first category brings together the "must" of tourism. We are talking here about Mykonos or Santorini, for example. The prices are very high and only ambitious projects have a chance of success. As far as individual projects are concerned in these places, the offer is increasingly tight, prices are reaching peaks, and it is certain that the extreme party atmosphere which reigns throughout the summer does not favor projects of rest and idleness in the sun. But, we must admit, that apart from their excess, these islands keep all the Greek magic in terms of landscapes and the sea. Isn't it said that the sunset in Santorini is the most beautiful in the world?
A second category of islands will be more appropriate for family holidays,
Let's go to Milo, Paros, Spetses, Syros, for example, and guaranteed happiness will real as announced. The prices are more diversified, but so is the offer. Everywhere you will find the opportunity to spend delicious hours at the beach, to visit historical and natural sites, to taste exceptional landscapes and to collect the good moments and the little pleasures of life as well.
A final category among island gems are those made up of less densely populated, wilder and more isolated islets that many in the public don’t even know the name of. These places will suit more adventurous and younger people because, it must be understood, there is a period of life when playing Robinsons is problematic. Transport infrastructure, health equipment, and links with the mainland are non-existent or difficult depending on the case. But, those lucky few, capable to adapt themselves to in this environment, will have, for a time, the opportunity to get close to the gods and heralds of Antiquity and penetrate the deep soul of Greece.
Mobilia Real Estate has made a specialty of real estate marketing in the Greek islands. We will be able to guide you and respond to all your requests depending on the nature of your project.
As we can understand, after reading these lines, Greece as a whole is a territory of opportunity for investing in real estate. It is essential to define your project clearly , its objectives and the means you want to devote to it. However, the two natural choices are Athens, on the one hand, and the islands, on the other. No one can deny what is obvious, so in this case, why will you hesitate? Mobilia Real Estate will be your most precious ally in the success of your real estate plans in Greece.