Recently, the latest report from Fitch Ratings confirmed that the credit rating outlook for Greece remains stable, with the Greek economy projected to grow strongly by 5.5% next year. Despite the impact of the pandemic on global finance, renowned institutions have great confidence in the sustainability of Greece's public finances.
Having experienced the pandemic, Greece has garnered global admiration for its rapid response and effective prevention and control measures, becoming a "model student" in Europe's fight against the pandemic. This has not only earned recognition from internationally renowned institutions but has further won the trust of global corporate and individual investors, leading to a continuous rise in investment interest in Greece.
Rising Housing Prices and Rents
According to data collected by the Bank of Greece from credit institutions, Greek property prices increased by 6.9% in the first quarter of 2020. In the second quarter of 2020, the national housing price growth in Greece was 4.8%, and compared to the second quarter of 2019, the national housing price trend remained stable.
At the same time, rents across Greece have continued to rise without any significant downward trend. Surveys show that rent growth in Greece reached 9.5% in the first quarter of this year.
It is evident that the development of the pandemic has not caused a decline in Greek housing prices; on the contrary, thanks to the proactive and effective control measures taken by Greece, housing prices have risen steadily. It is believed that as border controls are further relaxed, the return of tourists from various countries will drive an influx of capital, and Greek housing prices in the second half of 2020 still have promising room for growth.
Strong Growth in Construction Activity
Despite the COVID-19 pandemic, the volume of construction activity in Greece remained strong in 2020. The current measures to accelerate construction actually confirm from another perspective that a large number of Greek developers believe that once the pandemic ends, buyers will return to the market. This has also led to a significant increase in the number of building permits, construction area, and construction volume.
Specifically, the construction area under development in May increased by 4.4% compared to May 2019, while the building area increased by 5.3%. Compared to the period from January to May 2019, the number of building permits in the first five months of 2020 increased by 15.6%, and the number of construction projects increased by 24.6%.
With the pandemic easing, the Greek economy is improving, and the real estate market is becoming increasingly popular. The rebound in tourism, growth in consumption, and lower tax burdens are all positive news for investors! In the current situation, allocating overseas assets while securing an investment status is an opportunity that should not be missed; one must seize it in time!
In 2020, the Greek government introduced several preferential policies for investment immigration, such as simplifying the application process, shortening waiting times, and extending the validity of residence permits, which has boosted the confidence of investors in handling Greek immigration. If you have needs for health planning, education, retirement, or asset allocation, you must act in advance. Now is the best time to invest in Greece! After purchasing a property, investors can rent it out, sell it, and enjoy a series of benefits brought by the status, which can be described as killing multiple birds with one stone.
Currently, by immigrating to Greece and purchasing property starting from 250,000 Euros, one person can invest for three generations to immigrate, travel freely through 26 Schengen countries, and enjoy tourism, vacations, and property leasing or sales. August is the promotional period for Greek property investment immigration; the opportunity is rare, and you can receive a gift package upon purchasing a property.
2020 Health Planning Year: Health planning, status first, choose Greek property investment immigration. For details, please consult: Mainland China: 400-138-2929 Hong Kong, China: (852) 2802 8798.
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