1. How is the real estate market in Greece?

It’s no secret that the Greek economy has been in trouble in recent years.

The country struggled to get back on its feet after a major collapse in 2009.

This, along with the unprecedented global coronavirus crisis, has also impacted the housing market.

For potential buyers, this could mean an opportunity to snap up a bargain, but that also comes with a degree of risk.

After impressive growth in 2019, house prices in Greece are rising again, albeit very slowly.

Prices in urban areas of the country increased modestly by 3.38% in 2020 (5.38% adjusted for inflation).

Fortunately, the housing market will pick up as the country's economy recovers from the pandemic.

2. Can foreigners buy real estate in Greece?

While EU residents have few restrictions on purchasing property in Greece, non-EU residents may need to prove their ties to the country and their intention to use the property.

This application is made to the Department of Defense and primarily involves submission of documentation and proof of intent to use.

One of the main attractions of buying real estate in Greece is the golden residence visa. If the price of the purchased real estate is not less than 250,000 euros, you can obtain a residence status valid for five years. The status is bound to the real estate. If the real estate is not sold, the status will be

Can be renewed forever.

If the applicant has settled in Greece for 7 years, he or she can apply for Greek citizenship.

3. How much does it cost to buy real estate in Greece?

The cost of property in Greece depends heavily on the type of property and where you want to buy.

The current average prices are as follows: 1) The price of an apartment in Athens is between 200,000 and 400,000 euros, and the price of an independent villa may exceed 1 million euros; 2) The price of an apartment in Thessaloniki is generally higher than 70,000 euros, and the price of an independent villa may exceed

100,000 euros; 3) The price of apartments in Chalkidiki is generally higher than 70,000 euros, and the price of independent villas may exceed 150,000 euros; 4) The price of apartments in Crete is generally higher than 70,000 euros, and the price of independent villas may exceed 35

50,000 euros; 5) The price of an apartment in Corfu is generally between 100,000 and 200,000 euros, and the price of an independent villa may exceed 300,000 euros.

4. The best places to buy property in Greece There are many options when it comes to location in Greece.

From vibrant cities and rural summer resorts to sleepy fishing villages and picturesque seaside resorts, there's something for everyone.

Popular choices mainly include: 1) Corfu Corfu is a popular destination for British expats, with its UNESCO heritage Old Town, beautiful sandy bays and lively tourist areas.

2) Kefalonia This beautiful island is a bit quieter than Corfu, with charming fishing villages, wonderful walking trails and sparkling turquoise waters.

This is an ideal destination for retirees or anyone looking for a quieter life.

3) Zakynthos/Zante One of the Ionian Islands, Zakynthos has it all: stunning beaches, historic castles, hilltop villages, family-friendly resorts.

4) Crete Chania on the island of Crete is a popular location for British buyers, thanks to its reputation for safety, sun-kissed climate and numerous bustling cities, coastal communities and beautiful mountain villages.

5) The holiday hotspot of Rhodes has a well-preserved medieval old town, lively seaside villages and excellent links with the UK and Europe.

Rhodes is also a great place to buy property, especially a vacation home, although it may be more expensive than other islands.

6) Peloponnese This large central region is rich in history and is also a great place for food lovers, thanks to local specialties, including the famous Kalamata olives.

7) Athens Greece’s historic capital offers year-round entertainment and facilities, making it ideal for those who love bustling city life.

But property prices in Athens tend to be more expensive.

Regardless of whether the applicant is seeking investment income, self-occupation, or simply to obtain residence status, there are still many things that need to be paid attention to when buying a house in Greece. Carefully understanding the real experiences of people who have done so will yield great gains.

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