"Greece: A magnet for real estate investments."

With inflation shaking the Greek real estate market, many potential buyers are wondering whether it is worth investing money in the Greek real estate market. Tonya Kokkolis from the real estate company eXp Realty told the newspaper Neos Kosmos why investing in Greece is still worth it."Real estate in Greece is a more profitable asset than in most European countries - and real estate is considered the most profitable industry in Greece"- says Tonya, who professionally deals with buying and selling real estate both in Australia and Greece. She emphasizes that Greece's stability in the investment market implies "good growth potential in the coming years," adding that "attractive investment opportunities will continue to push the Greek economy upwards."

Before the pandemic

Economic destabilization and uncertainty have led to a noticeable decrease in demand for real estate, especially in terms of business licenses and compensations. However, according to recent assessments, Tonya looks optimistically at the potential for investment in Greece today. She sees the pandemic as an opportunity for change and believes that Greece has shown exceptional resilience and "unique flexibility in the overall market picture". Greece has become an "attractive destination", as attractiveness for investors lies in tourism. Furthermore, digital platforms have allowed remote work with "low operating costs", making Greece "a more investment-friendly place" with "excellent investment opportunities"."With its rich cultural heritage and abundance of natural beauty, our country is undoubtedly an object of admiration for those who visit it."- she adds.

A huge advantage for the country

also became the developed expertise of Greek tourism and hospitality companies that offer "attractive" packages and offers for travelers.

Born in Melbourne to parents from Sparta, Tonya returned to Greece in the 1990s and started her real estate business in 2006.

The islands consistently show "strong performance" thanks to tourism, Tonya said, adding that "Athens along with its urban areas will continue to grow," while lifestyle changes brought about by the pandemic seem to have had a positive impact on the regional areas.“Any decline is likely to be short-term.”- she says, expecting that the return on investments will continue to fluctuate between 8% and 10%.

Coccolis said that what prevents potential buyers from investing in real estate in Greece is "the lack of knowledge about the basic property laws."“I advise investors to choose an international company that provides quality services with qualified and experienced professionals in the real estate sector, offering a full range of services.”She believes that both paperwork and closing the deal are important and require special attention, as any incorrect information can lead to wrong choices. Attention to detail before any real estate investments is essential, says Kokkalis. All procedures leading to contract signing, as well as any cases where the buyer is a foreign citizen, should be given special attention. She explains that if the buyer is not familiar with the process, there is a high likelihood that they will find themselves in an unpleasant situation and“buys real estate to which he has no rights.”“Therefore, they should choose a real estateagency that will guide them properly.”- she concludes.