The Best of GRReporter
flag_bg flag_gr flag_gb

Foreigners are massively buying real estate in Greece

25 August 2013 / 15:08:00  GRReporter
20419 reads

"The portfolio of E&V in Hong Kong would like to deliver as a start no less than 100 estates valued at the price that was announced. The more quality properties we can supply them, the stronger relationships will be developed with local distribution channels. Please send me the first information as soon as possible "... "I need asap a portfolio of properties in Greece for 250k EUROs each. If it is a development even better. The best would be to get properties located downtown Athens or near airport, as well as others with sea view/pool/etc. located on the Greek islands. We have to ensure quality… This is the biggest issue and we have to guard against his. It will be a major volume trade. … they are looking for quality, comfort, convenience, and image. These are the minimum requirements they have though."

The new law

The “easy” visa is making a turn on the market

Legislation 4146/2013 on the provision of an “easy” visa is making a turn on the market. Some believe that in the coming years, thousands of homes can become property of foreigners. Initially, it was proposed that visas be given for purchases amounting to more than 300,000 euro, but afterwards this limit was lowered. Since prices in Greece have fallen significantly, there are thousands of properties that are sold at levels from 250,000 euro to 300,000 euro. Unlike Greece, Portugal and Spain grant visas for purchases of more than 500,000 euro, while in Cyprus the amount is 300,000 euro. In 2012, there were more than 1,000 buyers in Cyprus who were Chinese. Given that Greece reduced the ceiling, it immediately became a better market. People who have the right to stay in a five-year period are:

a) third-country nationals who have or are in the process of acquiring a property in Greece, with a value of no less than 250,000 euro.

b) third-country nationals who have hired hotel units or other tourist accommodation in tourist complexes for at least 10 years, with rents amounting to 250,000 euro.

c) members of their families.

Tags: Real Estate visa residence permit offers Chinese
GRReporter’s content is brought to you for free 7 days a week by a team of highly professional journalists, translators, photographers, operators, software developers, designers. If you like and follow our work, consider whether you could support us financially with an amount at your choice.
You can support us only once as well.
blog comments powered by Disqus