According to a survey by a Greek real estate agency, the Greek real estate market is showing signs of recovery, with property prices increasing by approximately 1% compared to 2016. On the other hand, the Independent Authority for Public Revenue of Greece recently stated in a circular that short-term property rentals through online platforms, such as Airbnb, may be exempt from VAT under certain conditions.
"The circular states that providing bed linens to customers at the time the lease takes effect is not considered an additional service. Facilities provided by the owner, for which the actual costs are borne by the customer, such as water, electricity, telephone, and internet, are also not considered additional services provided by the owner to the customer. None of the above situations will be subject to VAT. Furthermore, the regulation exempting short-term property rentals from VAT under certain conditions also applies to rentals not made through online platforms, such as those arranged through real estate agencies or referrals between friends."
In recent years, short-term property rentals have seen strong supply and demand in Greece. It is estimated that approximately 3 million tourists visiting Greece in 2017 stayed in Airbnb-style short-term rental properties. Many investors have recognized the investment opportunities in Greece; by September 2017, the number of foreigners who had purchased real estate reached 2,014, with investment amounts and related income exceeding 1 billion euros. Now that residential property owners may enjoy this VAT exemption benefit, Worldway Group experts remind everyone to invest as early as possible to seize the investment opportunity and be the first to enjoy the benefits!
Worldway Group experts state that investing in Greek real estate not only brings returns but also offers a path to immigration through property purchase, allowing investors to obtain a Greek residence permit in one go. By purchasing property, investors and three generations of their family can obtain Greek permanent residence permits and enjoy various benefits such as education and healthcare. Now is a period with a relatively short processing cycle and fast approval time for Greek immigration. Worldway has launched island properties with a 5-year guaranteed rental period and a 7% annual return, meaning investors can recover 35% of their profit in 5 years, which is equivalent to immigrating to Greece with three generations of their family for an investment of only 160,000 euros. Worldway currently has many high-quality Greek properties available, for example:
Greek Boutique Property 1
Greek 160,000 Euro Sea-View Guaranteed Rental Project, Includes Greek Status for the Whole Family
Located on Lefkada, one of the most famous and beautiful islands in Greece. Built with an ingenious attitude to create the perfect residence.
Price: From 160,000 Euros
Unit Type: One-bedroom, two-bedroom semi-detached villas, luxury apartments
Area: 71-165 square meters
Guaranteed Rental: 5-year guaranteed rental, 7% annual return
Taxes: 3% transaction tax
Location: Lefkada, Greece
Greek Boutique Property 2
Modern Apartments in the Athens Riviera, Living by the Sea, High Cost-Performance New Development
On the charming coast of southern Athens, this is a modern apartment with exquisite design.
Price: From 206,000 Euros
Unit Type: Includes one-bedroom, two-bedroom, and open-plan apartments
Area: From 63 square meters
Taxes: 3% transaction tax
Location: Southern Athens
As an advocate for international living and an immigration agency ranked among the top 500 Asian brands, Worldway Immigration Group launched the Greek property investment immigration project in China in July 2013 in collaboration with the Greek Embassy in China. Subsequently, it pioneered the "2013 European Immigration Year" and held China's first Europe-themed "European Property Exhibition" in cities such as Beijing, Shanghai, Shenzhen, and Qingdao, causing a wave of European investment immigration across China. For 21 years, Worldway has been unremitting in its efforts to promote high-quality investment immigration projects in European countries. The "European Property Purchase for Immigration: Rare Property Tour" hosted by Worldway Immigration Group is about to grandly commence! High-ranking Greek officials and developers will attend to give speeches. Excellent investment projects with high returns, only 160,000 euros to obtain residence status for the whole family + permanent property rights, with many highlights not to be missed. Worldway immigration experts remind all investors that the potential for Greek property purchase immigration is huge, and now is the perfect time to invest. Therefore, when you encounter high-quality properties, you must seize them early. Consultation hotline: 400-138-2929.
