The commercial real estate market in Greece is showing a steady upward trend, with its prospects pointing to this continuing for the next five years, with the majority of investments in the Greek market focusing on office buildings and tourist properties. Corina Saias, Managing Director of Premier Realty, highlighted that …
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Greek real estate: Eight reasons making the sector highly attractive to foreign investment
Foreign investing in Greek real estate is highly attractive for several reasons, according to Managing Director of Premier Realty Greece Corina Saias. As Saias notes, investing in Greek real estate provides a combination of affordable prices, high return potential, lifestyle advantages, and strategic benefits. As the Greek economy recovers and …
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Greece to scrutinize real estate purchases paid in cash
Tax authorities in Greece will scrutinize real estate purchases that were conducted in cash. Aim of the tax authorities is to trace and sources of money used for the transactions and possibly trace money laundering. The Independent Authority for Public Revenue (AADE) is tracing the money trail for thousands of …
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Real estate prices in Greece reach record highs
The rate of house price growth is continuously exceeding record highs, according to data compiled by the Bank of Greece for the first quarter of 2023. Indicatively, prices rose 14.5% year-on-year in Greece as a whole, with even higher increases in the two biggest urban centers, reaching 16.5% in Attica …
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Greek real estate in high demand by European and international investors
Τhe real estate market in Greece is at the center of European and global investment interest, according to participants in the annual Prodexpo conference in Athens that took place on October 24-25. Despite global challenges, the real estate market is showing exceptional resilience in Greece, offering opportunities to investors in …
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Greece launches interactive digital map of real estate price zones
A new digital platform that provides an interactive map of the Greece’s real estate price zones was launched by the Finance Ministry on Monday. The online tool allows citizens to see which zone their assets fall into, or get information on real estate so-called ‘objective’ prices, that is a property …
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Greece overhauls properties “objective values” with hikes reaching up to 250%
Greece’s Finance Ministry announced the new property zone rates on Monday in an effort to adjust the so-called objective values with the commercial values and have millions of real estate owners be taxed for their properties accordingly. The new property zones, 13,808 in total, are overhauled across the entire country …
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Three-year suspension of VAT for new real estate or unsold since 2006
Prime Minister Kyriakos Mitsotakis announced a three-year suspension of Value Added Tax (VAT) on new building permits but also on unsold properties built after 1. January 2006. Aim of the measure is to ease the huge stock of unsold properties and stimulate the construction activity. The exemption covers all real …
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Greek citizenship to third-country nationals investing €2mn in properties
The Greek government plans extra incentives to attract big scale foreign investors from non-EU countries: The trade is Greek citizenship in return for real estate investment worth at least 2 million euros. According to information by daily kathimerini, Greek citizenship and Greek passports will be available to third-country nationals acquiring …
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Real estate transactions increased by 42% in 2018, Public Revenues Authority says
Real estate property transactions recorded an increase of 42 percent 2018, totaling 26,700 compared with 18,800 in the previous year, Greece’s Independent Authority for Public Revenues (AADE) said in a report. The increase offers strong signs of a revival in the domestic real estate market,the report stressed. Short-term property leases …
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Greece’s Council of State rules homes in forest areas are “unconstitutional”
Bad news for homeowners in forest areas. Greece’s Council of State’s plenary session turned down as “unconstitutional” the legislation which allowed clusters of homes within forest areas. On Friday, the Council of State annulled a ministerial decision (34844/11.07.2016) which allowed small clusters within designated forest areas and could have led …
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Greece Sotheby’s real estate records significant growth in 2018
Sotheby’s International Realty Affiliates LLC announced the highest annual return in history in 2018, with its partners reaching a total sales volume exceeding over 112 billion dollars. Greece Sotheby’s experienced one of the highest growth rates worldwide, greatly consolidating its leading position in the local market. Record number of transactions …
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Greece holds 4. place in property taxation in the EU, real estate prices on the rise
When it comes to property taxation, Greece holds the fourth place in the European Union, after France, UK and Belgium, a study conducted by the Foundation for Economic and Industrial Research (IOBE) has shown. . Property Taxes (left): Greece after France, UK and Belgium. Repeated Property Taxes (right): Greece after …
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Greece to extend Golden Visa program to lure more investors
Greece will extend the Golden Visa program to investors other that those purchasing real estate worth at least 250,000 euros. The new scheme will include those who make a bank deposit or an investment in Greek bonds or shares of at least 400,000 euros. In return, recipients will get five-year …
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Chinese investors line up to take advantage of cheap Greek real estate
Chinese investors are lining up to take advantage of cheap real estate in Greece where prices hit bottom during the economic crisis. For Chinese buying property in Greece is of high interest due to the Golden Visa program that grants them a 5-year residence permit for them and their family. …
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Russians, Chinese, Turks obtain Greece’s Golden Visa investing €1bn in real estate
Foreign nationals have invested €1.1 billion to purchase Greek real estate under Greece’s “Golden Visa” program. Since the program’s inception in 2013, 1,725 golden visas have been issued, entitling investors and their families to five-year residence permits in Greece. The “Golden Visa” program entitles national form third countries, i.g. outside …
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Germany says Greece to use Gold, real estate as collateral if IMF out of program
The Bavarian Minister of Finance, Markus Soeder (CSU), a fierce Grexit supporter of Merkel’s CDU sister party apparently has moved away from his demand for a Greek euro exit. During a visit to Athens, Soeder said that the problems around Britain’s exit from the EU showed how difficult a Grexit …
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The most expensive home in Greece: You can have it for 20million euros
A pinewood forest, three private beaches, seven outdoor living areas, seven bedrooms, seven bathrooms, two build-in kitchen, two guest suites…. 568 square meters of astonishing grounds inspired by the design of a French country house. A dream home to call it own. Stunning view over the Saronic Sea, the cosmopolitan …
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Bank of Greece report: Apartment prices down 1.5 pct in Q3
Nominal apartment prices are estimated to have declined on average by 1.5 pct year-on-year in the third quarter of 2016, the Bank of Greece said on Monday. The central bank, in a report, said that according to revised data, the decline in the first and second quarters of 2016 was …
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Auctions & foreclosures start with real estate, hotels & 180 sheep
It’s done. Despite the famous Greek summer, as of tomorrow, June 1st 2016, it will rain auctions and foreclosures. The relevant Presidential Decree was signed and published in the Official Gazette. Apartments, villas, land plots, hotels, ships, helicopters and yachts but also 180 sheep and poultry farm equipment with 4 …
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