According to data collected by credit institutions, Greek property prices increased by an average of 2.6% in the fourth quarter of 2020 compared to the same period in 2019, while data from the Bank of Greece (BoG) for the full year of 2020 shows that Greek property prices rose by an average of 4.2%.
Property Price Index by Age and Geographic Region
According to property age, prices for "new properties" (i.e., less than 5 years old) increased by approximately 2.0% in the fourth quarter of 2020, while prices for "old properties" (i.e., more than 5 years old) increased by approximately 3.0%.
For the full year of 2020, the average annual price growth rate for new properties was 4.7%, and the average annual price growth rate for old properties in 2020 was 3.9%.
By geographic region, compared to the same period in 2019, apartment prices in Athens rose by 5.2% and apartment prices in Thessaloniki rose by 4.1% in the fourth quarter of 2020.
Compared to 2019, the average prices of apartments in the same regions in 2020 increased by 7.4%, 4.6%, 0.1%, and 1.8% respectively. Finally, for all urban areas nationwide, apartment prices in the fourth quarter of 2020 grew by 2.8% compared to the fourth quarter of 2019, while the average annual growth rate for 2020 was 4.5%.
In 2020, affected by the pandemic, the growth of apartment prices in Greece slowed down. However, whether for new properties, old properties, or urban areas, Greek property prices maintained a growth trend, which is sufficient to show that the Greek real estate market is highly resilient and that global investors remain confident in Greek properties.
Greece remains a gold mine for investors
Based on recent trends in Greece, it is not difficult to see that the Greek government is actively revitalizing the economy affected by the pandemic. Whether in terms of tourism prospects or the real estate market, the Greek economy is in the process of gradual recovery. Furthermore, with the consolidation of China-Greece cooperation, favorable international market outlooks, massive investments from Western giants, continued policy benefits from the Greek government, and the support of the Greece Golden Visa program, Greece remains a preferred investment destination for global investors.
Currently, through the Greece Golden Visa program, investors can invest in properties starting from 250,000 euros to not only apply for permanent residence in Greece for three generations of their family and travel freely across 26 Schengen countries, but also enjoy social benefits such as Greek education and healthcare. Additionally, they can acquire properties with permanent ownership in Greece and establish a second home overseas, which can be described as achieving multiple goals at once. Currently, it is a preferential period for Greek property investment immigration; the opportunity is rare, and purchasing a property comes with a big gift package. Interested parties must seize the opportunity in time!
As one of the Top 500 Asian Brands, WorldWay Group, as one of the earlier 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 investment immigration project—Athens Seaside Apartments, suitable for both renting and self-occupation.
Athens Seaside Apartments
◆ Brand new building, located in a popular area for long-term and summer rentals, suitable for both renting and self-occupation
◆ Very suitable for family living, combining seaside life and international schools
◆ Near light rail station, convenient transportation, complete living facilities
◆ Purchase property from 250,000 euros, three generations of the family can apply for Greek permanent residence
The project has 6 floors and offers 10 apartments, including 8 two-bedroom apartments and 2 three-bedroom duplexes, with prices starting from 289,000 euros. The project is a brand new building and will be delivered in the first quarter of 2022. It is within walking distance to Alimos Marina, Metropolitan Park, and the SN Cultural Center.
Project interior 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 Seaside Apartments allows you to enjoy significant discounts. Properties are limited, first come, first served! For more details, please consult the WorldWay Group service hotline, Mainland China: 400-138-2929, Hong Kong, China: (852) 2802 8798.
