Frequently Asked Questions

Investing in Greek real estate offers several significant advantages:

Affordable Property Prices: Following the economic crisis Greece experienced, property prices fell significantly. In recent years, as the country has emerged from the crisis, Greek property prices have been on an upward trend, while still remaining relatively low compared with Western European countries. This creates an opportunity to invest in high-quality properties at attractive prices, with the potential for future capital growth.

Economic Growth: In recent years, Greece has been one of the stronger-performing economies among OECD countries, contributing to growth in the real estate sector. Improvements in tourism, infrastructure investment, and government support across various sectors all contribute to the potential for increased returns.

Strong Tourism Market: Greece is a highly popular tourist destination, attracting more than 33 million tourists annually. This creates strong demand for holiday homes and short-term rental properties, offering investment opportunities with potentially attractive returns.

Favourable Taxation: Greece’s financial system offers relatively favourable tax rates for foreign investors, particularly compared with other European countries. In addition, the country provides certain incentives for investors in the real estate sector.

Excellent Geographic Location: Greece occupies a strategic position connecting East and West, providing convenient access to European, Asian, and North African markets.

Clear Regulatory Environment: In recent years, Greece has simplified the property purchasing process, making it more accessible to foreign investors. Regulatory stability also provides investors with greater confidence and security.

Overall, investing in Greek real estate offers a combination of attractive prices, future growth potential, and favourable conditions for investors, making it an appealing option for both short- and long-term investment.

Yes, houses can lose value. Over time, factors such as wear and tear, outdated design, changes in the local housing market, or broader economic shifts can cause a home’s market value to decline.

It is important to understand that while real estate generally appreciates — meaning its value typically increases — various circumstances can also lead to depreciation.

Regular maintenance, renovations, and the overall condition of the property all play an important role in reducing depreciation and preserving the property’s value.

The value of an older house compared with a new one can vary depending on several factors. New homes often feature modern amenities, energy-efficient features, and updated designs, which can attract buyers and potentially command a higher price. However, older homes may offer unique architectural details, larger plots, or established neighbourhoods that appeal to a different group of buyers.

Maintenance and renovations also play a significant role. Well-maintained older homes can retain their value or even appreciate, while neglected properties may lose value.

Ultimately, factors such as location, condition, features, and market trends influence a home’s value, whether it is new or old. Both types have their own advantages, and personal preferences and priorities will determine which is more valuable to a particular buyer.

A broker is a licensed intermediary who facilitates transactions between buyers and sellers of various assets, such as real estate, stocks, or commodities. Brokers provide expertise, negotiate terms, and help ensure smooth transactions, earning a commission or fee for their services.

Brokers play an important role in connecting parties and facilitating transactions.

Yes, you can pay your taxes and insurance yourself, particularly when you own a property. Many homeowners choose to manage these expenses independently rather than include them in their monthly mortgage payments. In other words, they opt to pay them directly themselves.

This gives you greater control over your finances and ensures that you can pay these bills when they become due. However, some lenders may require an escrow account to ensure that property taxes and insurance premiums are paid on time, particularly if you have a mortgage.

It is essential to understand the terms of your loan and discuss your options with your lender or financial adviser.