Recently, the international rating agency DBRS Morningstar upgraded Greece's credit rating from BB (low) to BB, with the outlook changing from 'stable' to 'positive'. Additionally, the German rating agency Scope Ratings also upgraded Greece's credit rating not long ago.
In 2021, the Greek economy is steadily recovering. The Bank of Greece has released the latest data on Greek real estate, showing that housing prices surged by 4.6% in the second quarter of 2021. The data indicates that prices in the Greek residential market are rising across the board, accelerating the recovery, with Athens experiencing the highest price increase at 6.4%, while the second-largest city, Thessaloniki, saw a 4.1% increase.
It is also noteworthy that from 2018 to 2020, housing prices in Athens increased by 20%. If there are no unexpected changes, the price increase from 2018 to 2021 in Athens will exceed 25%, approaching 30%. Although housing prices have been rising, they remain significantly lower than in other Southern European countries, and compared to 2007, property prices are undervalued by 27% to 38%, making Greek real estate highly competitive. As prices rise, the gap in undervaluation of Greek properties will continue to narrow rapidly, and interested investors should act quickly.
While housing prices in Greece continue to rise, rental prices are also generally increasing. According to Lefteris Potamianos, president of the Athens-Attica Real Estate Agents Association, rents in most areas of Athens have risen by 25% to 30% since 2017.
The simultaneous rise in both housing prices and rents in Greece indicates that the various policy measures taken by the Greek government during the pandemic have played a positive role. Furthermore, according to the China-Greece Times, Greece's GDP grew by 16.2% year-on-year in the second quarter of 2021. All signs indicate that in the post-pandemic era, with the relentless efforts of the Greek government, the Greek economy will shine in a new light!
For immigrant investors, now is an excellent time to invest, as the momentum of rising housing prices in Greece is strong and will continue for the long term. This opportunity should not be missed. Currently, investors can apply for Greek permanent residence visas for their entire family through the Greek Golden Visa program by investing in properties starting from €250,000. This not only allows them to travel freely across 26 Schengen countries but also grants access to Greek education, healthcare, and other social welfare benefits, while also acquiring property with permanent ownership in Greece, establishing a second home abroad, which is truly a win-win situation.
Moreover, by immigrating to Greece, children can attend international schools and participate in the Overseas Chinese Student Examination as overseas Chinese students, making it easier to enroll in top universities such as 985 and 211, enjoying education in mainland universities! A decade of hard work can be replaced by the ease of gaining admission to prestigious schools through overseas status. This status not only allows children to grow in a high-quality educational environment abroad but also provides better choices when facing university decisions. It is worth noting that if you want your child to participate in the Overseas Chinese Student Examination in 2024, planning for Greek permanent residency is already on a countdown, and you should start arranging the status now.
Sometimes, making the right choice is more important than hard work! A single investment can yield multiple rewards. Currently, it is a favorable period for buying property in Greece for immigration, and opportunities are rare. Purchasing a property now can come with great bonuses, so interested parties must seize the moment!
Athens Seaside Apartments
◆ Brand new construction, located in popular areas for long-term and summer rentals, suitable for both rental and personal use
◆ Very suitable for family living, combining seaside life and international schools
◆ Close to light rail stations, convenient transportation, and complete living facilities
◆ Property purchase starting from €250,000, allowing the entire family to apply for Greek permanent residency
At the same time, Worldway is also collaborating with powerful Greek developers to recommend various high-quality properties to investors, such as brand new apartments in downtown Athens, to meet the needs of different investors.
Investing in Greece is timely, with multiple popular properties available for selection. Purchasing a property now can come with great bonuses, so interested parties must seize the moment! For more details, please call the Worldway service hotline: Mainland China: 400-138-2929, Hong Kong: (852) 2802 8798.
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Investment carries risks; the above information is for reference only.