Recently, Trazee Travel magazine announced the 7th annual 2021 Trazee Travel Awards. Greece once again topped the list of 'Favorite Tourism Countries.' This marks the second consecutive year that Greece has secured the first-place position. Meanwhile, Santorini has been named 'Best Island in Europe' for eight consecutive years. Additionally, Greece was ranked second as the 'Most Favorite Honeymoon Destination.'
In a recent online article, Trazee Travel wrote: Greece's diverse natural landscapes offer visitors endless beauty. Beyond its more than 2,000 islands, each with its own unique character and appeal, Greece also boasts cities filled with history and UNESCO World Heritage sites, as well as unspoiled traditional villages.
Furthermore, according to an announcement by the Greek National Tourism Organization, global travelers widely recognize the high-quality luxury tourism experience that Greece offers. In fact, due to its numerous picturesque islands and world-renowned historical monuments, Greece has long been a 'vacation paradise' in the hearts of many.
Greece's Tourism Industry Continues to Recover
According to the latest data released by the Bank of Greece, tourism revenue in Greece from January to June 2021 reached 1.108 billion euros, an increase of 51% compared to the same period in 2020. With the reopening of the Greek tourism industry in June, the country generated 791 million euros in tourism revenue in that month alone, an increase of 851.8% compared to the same period last year! Additionally, the number of inbound travelers to Greece increased by 317.1%, and the average expenditure per visitor rose by 124.8%.
In this regard, Greek Tourism Minister Harry Theoharis stated that, against the backdrop of the current global pandemic, the number of travelers entering Greece shows strong signs of recovery for the Greek tourism industry. He also mentioned that Greece will accelerate vaccinations and strive to open safely while protecting public health.
With foreign tourists flocking in, the massive demand for accommodation is fueling a continued rise in Greek property prices. Investors interested in real estate should consider entering the market now.
Greece's Real Estate Market Gradually Rebounds
According to a previous survey, the Greek residential market is gradually rebounding. The survey shows that in the second quarter of 2021, property prices in the Attica region, where Athens is located, rose by 10.1% year-on-year. Asking prices in the northern and western suburbs of the capital, Athens, also rose by 7.9%. Prices in the southern suburbs of Athens remain high, with an average asking price of 2,766 euros per square meter, and sales volume increased by 6.4% compared to the same period in 2020. In addition, rents in the rental market have shown a clear upward trend on both an annual and quarterly basis. For example, in the northern suburbs of Athens, the average asking price was 9.17 euros per square meter. This represents an 8.4% increase in the second quarter compared to April-June 2020, and a 4.6% increase compared to the first quarter of 2021.
At the same time, an analysis by Piraeus Bank shows that residential real estate prices in Greece are expected to rise at an average annual rate of 4.9% until 2027. The report also projects that Greek residential prices will rise by 5.7% year-on-year in 2021, 6.4% in 2022, 5.7% in 2023, and 5% in 2024.
It can be said that the Greek real estate market remained resilient in 2021. For investors, now is an excellent time to invest. Through the Greece Golden Visa Program, investors can purchase properties starting from 250,000 euros, which not only allows three generations of a family to apply for permanent residency in Greece and travel freely across 26 Schengen countries, but also provides access to Greek social benefits such as education and healthcare. Furthermore, investors gain permanent ownership of Greek property, establish a second home overseas, and achieve optimized allocation of overseas assets—truly a multi-benefit investment.
Additionally, by immigrating to Greece and meeting the relevant requirements, children can participate in the Joint Entrance Exam for Overseas Chinese Students, allowing them to enter top domestic universities with lower scores. It is worth noting that if you want your child to participate in the 2024 exam, the countdown for planning your Greek permanent residency has already begun; you need to start configuring your status now.
One investment, multiple rewards. Now is the promotional period for Greek property investment immigration; it is a rare opportunity. Purchase a property and receive a gift package. Interested parties should seize the opportunity in time!
Investing in Greece is timely. With a forward-looking vision, WorldWay Group has partnered with powerful Greek developers to introduce numerous high-quality properties to investors. Choose from a variety of popular properties. For details, please consult: Mainland China: 400-138-2929, Hong Kong, China: (852)2802 8798.
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