According to Greek media reports, data recently released by the Bank of Greece shows that, thanks to Greece's economic recovery and growing interest from foreign investors, the Greek real estate market saw its highest growth in 12 years during the second quarter of this year.
Greece's Q2 Housing Price Growth Hits a 12-Year High
According to data released by the Bank of Greece, Greek housing prices rose by 6.3% year-on-year in the first half of this year, with a 7.7% year-on-year increase in the second quarter, marking a 12-year high. This is mainly attributed to economic recovery and the stimulus of foreign investment. Benefiting from the rise of Airbnb and the "Golden Visa" policy, the capital, Athens, has become one of the regions with the most rapid growth in housing prices in Greece. Compared with the same period last year, housing prices in Athens rose by 11.1% in the second quarter, followed by the northern city of Thessaloniki, where local housing prices rose by 7%.
According to data released by the Bank of Greece, in the second quarter of this year, the selling price of "new" apartments (under 5 years old) rose by 7.7%, while the price of "old" apartments (over 5 years old) grew by 7.6%. Compared with the first quarter of this year, there were significant changes in the growth rates of both "new" and "old" apartments. In the first quarter of this year, the price of "new" apartments rose by 5.1%, and the price of "old" apartments rose by 4.9%. For the whole of last year, the price of "new" apartments rose by 1.9%, and the price of "old" apartments rose by 1.6%.
Foreign Capital Inflow into the Greek Real Estate Market Increased by 49% Year-on-Year in the First Half
In addition to rising property prices, the amount of foreign capital flowing into the Greek real estate market is also constantly increasing. According to data released by the Bank of Greece, the capital flowing into the Greek real estate market from abroad in the first 6 months of this year increased by 49% year-on-year.
Between January and June 2019, non-Greek citizens invested a total of 740 million euros in purchasing Greek properties. The total for the whole of 2018 was 1.1 billion euros, while in 2017 this figure was only 415 million euros.
Immigration Through Property Purchase in Greece: Obtaining Both Status and Investment
With the recovery of the Greek economy and the promotion of policies such as the reduction of the "Single Property Tax," the momentum of the recovery in the Greek real estate market is becoming increasingly evident. Through the Greek property investment immigration program, by investing 250,000 euros or more in property, the whole family of three generations can obtain a Greek permanent residence visa, travel freely through 26 Schengen countries, and at the same time acquire a property with permanent property rights—a multi-benefit solution.
As one of the earliest immigration agencies to promote the Greek property investment immigration program in China, WorldWay Group, in collaboration with powerful Greek developers, introduces another major property project to investors—a brand-new apartment project in the center of Athens. Starting from 257,000 euros, you can purchase 2 brand-new apartments in the center of Athens, and the purchase also allows the whole family to obtain Greek permanent residence status.
Overview of the Brand-New Apartment Project in Athens City Center
Project Type: Apartments & Shops
Layout: 1 Bedroom, 1 Bathroom
Price: Starting from 117,000 euros
Project Highlights: Superior location with convenient transportation; enjoys views of the Acropolis of Athens; elegant design with relatively complete basic facilities; 257,000 euros can purchase 2 apartments, and the purchase allows three generations of the family to obtain a Greek Golden Visa
The project consists of 54 modern serviced apartments, 6 floors high, with 9 units on each floor. There are 2 retail stores on the ground floor, 28 parking spaces in the basement, and the project is equipped with fitness facilities and a rooftop swimming pool for residents to use. From the first floor to the rooftop, residents can enjoy the magnificent view of the Acropolis of Athens and the cityscape of central Athens. Modern serviced apartments can provide tourists with extra comfort or a more unique travel experience.
Superior Geographical Location
Located in the center of Athens, in the Evelpidon area, it has a superior geographical location, adjacent to Pedion tou Areos Park and the Court of First Instance.
Due to the high security of the Evelpidon area, it has attracted many lawyers to set up offices in the area. In addition to being an upper-middle-class residential area, it has also become a popular area for students and young people due to its convenient access to nearby universities, shops, parks, and sports facilities.
Convenient Transportation
The project location has convenient transportation, close to the subway station, and can provide fast and efficient urban transport connections.
Elegant Design and Complete Facilities
The project has complete basic facilities, close to 2 universities, law firms, banks, pharmacies, restaurants, cafes, etc., suitable for short-term or long-term living, providing residents with a comfortable residence. The elegant interior design allows residents to enjoy the feeling of home. Some apartments are also equipped with spacious living rooms and balconies, suitable for professionals working from home or university students. After a day out, residents can use the rooftop swimming pool and gym to enjoy the charming panoramic view of Athens.
In the favorable economic environment of Greece, not missing out is the best investment! Investors interested in participating in the Greek investment market should act early to benefit early. For more details on immigration through property purchase in Greece, please consult: 400-138-2929.
WorldWay—The earliest immigration agency to promote the Greek property investment immigration program in China
In 2013, it partnered with the Greek Embassy in China to hold the "Greek Property Investment Immigration" launch ceremony in China, introducing this project to China.
WorldWay Group executives have met with dozens of dignitaries including the Greek Ambassador to China, Commercial Minister, Consul, and immigration officials.
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