Greece has become one of the top global destinations for property investments for a number of obvious reasons.
Investing in Greece is a popular way to get an EU passport and the country offers a comfortable lifestyle, a high quality of life by international standards and lenient terms for acquiring a legal status within the EU.
Here is why Greece is a smart and profitable investment:
Greece is an EU member and is strategically situated between three continents: Europe, Asia, and Africa.
Greece's strategic location at the crossroads of Europe, Asia, and Africa makes it an ideal hub for international trade and commerce. The ease of transport by sea and air further enhances its connectivity with international markets.
Piraeus port, located near Athens, is not only the largest port in Greece but also one of the fastest-growing commercial and touristic ports in Europe. It serves as a major gateway for trade between Europe, Asia, and Africa, making it a crucial hub for global shipping and logistics. The port's strategic location and excellent infrastructure make it an important node for international trade, facilitating the exchange of goods and services between continents.
The Greek Golden Visa program offers significant benefits in terms of visa-free travel within the Schengen Area. With a Golden Visa in hand, you and your dependents can enjoy visa-free access to the 26 Schengen Area member states, including 22 EU member states and 4 non-EU member states. This means you can travel freely for business or leisure, explore the rich cultural heritage of Europe, and enjoy extended stays without the need for additional visas or entry requirements.
Greece has long been recognized as one of the world's top holiday destinations, attracting millions of visitors annually. The United Nations World Tourism Organization (UNWTO) notes that the number of tourists visiting Greece often exceeds the number of residents, with an average ratio of 2:1. This speaks to the popularity of Greece as a global tourism hotspot.
According to data from the Bank of Greece, the number of visitors to Greece has shown significant growth over the years. From 16.9 million visitors in 2009, the number has doubled to 33 million visitors in 2018. This reflects the country's ability to consistently attract a large number of tourists due to its natural beauty, rich cultural heritage, and warm hospitality.
Athens, the capital of Greece, holds a significant position as the country's economic center. It generates approximately 19.9% of Greece's Gross Domestic Product (GDP), making it the leading contributor among all EU capitals in terms of GDP generation.
According to forecasts from Statista, Greece's GDP is projected to steadily increase between 2022 and 2027, with a total estimated growth of 40.8 billion U.S. dollars, representing an 18.38% increase. This indicates positive economic prospects for Greece in the coming years, with expected growth in various sectors of the economy.
Greece offers an attractive option for investors interested in real estate, particularly in Athens, as the property prices are comparatively lower than other European capitals. In fact, Athens is three times cheaper than Lisbon, Madrid, and Berlin, five times cheaper than Vienna, and almost eight times cheaper than Paris, making it an affordable investment opportunity for potential investors.
Greece has become a popular destination for real estate investment due to its favorable market conditions. Stable property prices, low interest rates, and a recovering economy create an attractive environment for real estate investors. Additionally, Greece offers affordable property prices compared to other European countries, making it a cost-effective option for property purchases.
Capital Gains Tax is not applicable to individual real estate buyers under the Greece Residence-by-Investment Program.
Furthermore, by moving one’s tax residence to Greece, an applicant can benefit from an alternative taxation of income of foreign origin.
Greece is known for its warm hospitality and welcoming culture, making it an attractive destination for investors seeking to obtain residency through real estate investment. The country has a rich history and diverse culture, with friendly locals who are known for their warmth and friendliness towards foreigners.
Investors under the Greece Residence-by-Investment Program can enjoy the benefits of living in a country that values its visitors and residents. The Greek people are known for their warm hospitality and willingness to embrace foreigners, making it easier for investors to integrate into the local community and enjoy a fulfilling lifestyle.
