A lot of people know that the acquisition of real estate is the best way to invest money, and if the object of investment also gives income, it would be a perfect option. Greece is a picturesque country and every city is special. There one will find rocky mountains and valleys, a great number of islands, bays, grottoes, and beaches.
Why is it profitable to invest in Greek real estate?
Let’s highlight the main advantages:
1) Greece is a country of the European Union. When you purchase a property which worths 250,000 euros or more, you will automatically receive a Greek residence permit with the possibility of its extension. This document will allow you to visit all EU countries without a visa;
2) In Greece Summer lasts from 5 (Northern Greece) to 9 months (Crete) depending on the region. This indicator has a direct impact on the tourism sector;
3) Property Prices and the cost of living in the country is much lower than in other Mediterranean countries such as Spain, Italy, Portugal, etc. Greece also offers favorable prices for tourist services, which attracts a large number of tourists every year.
From all of the above, one may conclude that the most profitable investment option is in real estate, which can be used in the tourism sector:
- large hotel complexes or small resort hotels;
- luxury villas for rent;
- apartments and studios for rent;
- offices to open the business in the field of tourism services;
- shopping centers and small shops in resort towns and villages;
- cafes, bars, restaurants, and other catering establishments in resort towns and villages;
- premises for opening entertainment facilities (clubs, bowling, cinema, etc.).
The only distinction that should be taken into consideration is the business seasonal nature. In summer, the demand for goods and services will be as high as possible, while in winter it may be completely absent.
The Greek Real Estate market is characterized by wide variety of objects ranging from 35 sq.m to 10,000 sq.m and cost ranges from several tens of thousands to several million euros for private and business real estate with different distances from the seaside.
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