Affected by the 2020 pandemic, all industries have been impacted to varying degrees, yet property prices in many parts of Greece have risen against the trend.
According to the Residential Property Price Index for the third quarter of 2020 recently released by the Bank of Greece, apartment prices in Greece increased by 3.2% year-on-year in the third quarter, with apartment prices in the Athens region rising by 5.6% year-on-year. Those investors with a keen eye for investment who entered the Greek real estate market early have become the big winners!
Although the growth in apartment prices in the third quarter of this year slowed compared to the 6.5% and 4.1% year-on-year increases in the first and second quarters, respectively, Greek apartment prices have maintained a growth trend under the influence of the pandemic. This is sufficient to show that the Greek real estate market is highly resilient and has enormous prospects!
So, why have Greek property prices been able to rise against the trend during this special period of the pandemic?
Macroeconomic Stimulus from the Government
A major reason why Greek property prices have risen rather than fallen is the large-scale stimulus plan by the Greek government and the central bank, such as tax cuts and maintaining borrowing costs at levels close to historical lows. Furthermore, Greek Finance Minister Christos Staikouras previously stated in an interview: "All emergency and permanent tax cuts approved before the outbreak of the pandemic will continue to apply in 2021, and low-interest state loans will continue until next year."
Boost from the Greek Property Investment Immigration Program
In addition to government policy support, another force supporting the Greek real estate market comes from the Greek property investment immigration program. Many investors aspire to obtain a Greek permanent residence visa and therefore apply through the Greek property investment immigration program. Through this program, investors only need to purchase property starting from 250,000 euros. Not only can they apply for a Greek permanent residence visa for three generations of their family and travel freely through 26 Schengen countries, but they can also enjoy Greek social welfare benefits such as education and healthcare. Moreover, they can acquire property with permanent ownership in Greece and establish a second home overseas. It can be described as achieving multiple goals at once, and it is highly favored by investors.
International Rating Agencies Are Optimistic About the Greek Economy
Although the local tourism industry has been greatly affected this year, the international community still maintains great confidence in the Greek economy. The internationally renowned rating agency Moody’s has upgraded Greece's rating from B1 to Ba3, with a "stable" outlook, which means the international market has cast a vote of confidence in Greece's future prospects!
Looking at the special period of the pandemic, the Greek real estate market still possesses huge potential. Coupled with continuous favorable policies, Greek property investment immigration remains a relatively cost-effective choice.
Recently, with the closure of the Cyprus Investment Program, the trend of tightening European investment immigration policies is clear. Meanwhile, Greek immigration continues to release favorable news, such as: simplifying the application process, shortening waiting times, extending the validity of residence permits, and the recently introduced policy allowing minors to be the main applicants, making it even more precious! It is recommended that interested investors immigrate early; the sooner you apply, the sooner you benefit! Now is the best time to invest in Greece! January is the promotional period for Greek property purchase immigration. Opportunities are rare; purchase property to receive a gift package. Those interested must seize the opportunity in time!
As one of the Top 500 Asian Brands, Worldway Group, as one of the earliest immigration agencies to introduce the Greek property investment immigration program to China, once again joins hands with powerful Greek developers to grandly recommend another heavyweight Greek property purchase immigration project—Athens Coastal Apartment Phase 2 makes a stunning debut. It is worth mentioning that Phase 1 of this project, previously recommended by Worldway Group, was highly favored by investors and was fully subscribed by investors shortly after its launch.
Athens Coastal Apartment Phase 2
Brand new high-end building in the Athens region, suitable for both renting and self-occupation
Located in a popular area for long-term and summer rentals, with broad prospects
Close to the light rail station, with convenient transportation, good regional environment, and complete living facilities
Purchase property starting from 250,000 euros, and apply for Greek permanent residence for three generations of the family
Brand new high-end building in the Athens region, suitable for both renting and self-occupation
The project has 7 floors and offers 10 apartments, including 6 two-bedroom apartments and 4 three-bedroom duplex apartments, all of which adopt high-end designs. The surrounding environment is superior, with complete supporting facilities, surrounded by five-star hotels, and multiple light rail stations. The transportation is well-developed, allowing convenient access to all parts of Athens, suitable for both renting and self-occupation.
Distance to the Stavros Niarchos Foundation Cultural Center—120m
Distance to the light rail station—1.1km
Distance to the Flisvos Marina—2km
Distance to the Acropolis of Athens—4.4km
Located in a popular area for long-term and summer rentals, with broad prospects
The project is located in a superior area on the Athens coast, adjacent to the Stavros Niarchos Foundation Cultural Center, the National Opera, and the National Library. It is close to the beach and the luxurious Flisvos Marina, within walking distance to all major facilities and the famous Aegean Sea. It is a popular area for long-term and summer rentals, with broad prospects.
Project renderings (the following pictures are for reference only, subject to actual delivery)
At the same time, Worldway also joins hands with powerful Greek developers to recommend a variety of high-quality properties to investors, such as brand-new apartments in the city center of Athens, rare high-end residential properties in Athens, etc., to meet the needs of different investors.
There is no need to elaborate on how popular Greek properties are! Not missing out is the best investment! Currently, purchasing Athens Coastal Apartment Phase 2 allows you to enjoy heavyweight discounts. Properties are limited, first come, first served! 2020 is the year of health planning; health planning, status first, choose Greek property investment immigration. For more details, please consult: Mainland China: 400-138-2929, Hong Kong, China: (852) 2802 8798.
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