Real estate experts say Greece offers huge investment opportunities.

Athens, Greece. Photo: Pexels.

Perspectives for buyers interested in real estate in Greece

The outlook for buyers interested in real estate in Greece promises to be encouraging, market experts said at the 24th Prodexpo conference held last week in Athens. According to Dimitris Biniaris, president of the Federation of Real Estate Agencies of Greece and a member of the board of the Athens Real Estate Association, buyers can expect returns of 4% to 10% on real estate investments in Greece. He added that there are "huge opportunities" for foreign investors.

Discussion at Prodexpo conference

The discussion at the Prodexpo conference followed the announcement by National Economy and Finance Minister Kostis Hatzidakis that foreign investment in real estate rose 39% in the first half of the year compared to 2022 on the back of an upward trend a year ago, when foreign investment in real estate amounted to 2.1 billion euros, 68% higher than in 2021.

Greece has emerged as a strong real estate market

Biniaris also noted that Greece has become a strong real estate market during the crisis, thanks to the renovation of old private houses in city centers and offering them for short-term rentals, as well as the development of apartments, boutique hotels and hostels for students. He also noted,'''that Greece offers a safe investment environment, low crime, a healthy banking system and the highest yields of any developed country.

According to Biniaris, "today, returns on real estate investments (office buildings, stores, warehouses, industrial facilities and individual buildings in city centers) can reach 4% to 8% on stores, 8% to 10% on industrial facilities, 5% to 7% on renovated urban facilities, 6% to 7.5% on office space and 7% to 8% on warehouses." He also noted that yields can be even higher when partnering with a developer from the outset. In this case, yields can be as much as 50% higher, as in the example of a property in the center of Athens, near Omonia Square.

To be in'. 'Keep up to date with all the latest travel and tourism news in Greece by subscribing to GTP Headlines on Google News.