Have you ever thought about buying your own hotel? No? And in vain, it is not always very expensive, but always a profitable investment, of course, if you choose the right country and the object. About where and why to invest in Greece, our article will inform you.
Investing in square meters is more attractive than ever, especially in Greece. Today the country is experiencing the beginning of an investment boom. Investments from all over the world went to the country.
Only in the first seven months of 2017, investments in the local real estate soared by more than 70%. And this is logical because prices here remain one of the lowest in Europe, and many experts say about market stabilization and good prospects for development.
At the end of 2017, the decline in prices almost stopped and fluctuates at the level of statistical error. But the profitability is in the plus and often exceeds the average European 3-5%.
The investment climate in Greece is shaped by:
1.Resort attraction of Greece.
Despite all the crises, the country is visited annually by millions of tourists from many countries of the world.
2.The presence of big international players in the real estate market.
Today such large investment companies as Black Rock (USA), Fosun Group, and Cosco Investment from Asia, Eagle Hills from Abu Dhabi (United Arab Emirates), and others work in Greece.
The stable income in Greece brings investments in almost any property. The owner earns either on long-term rental rent, or on resale, or on short-term rent. But special attention should be paid to hotels and apartment hotels in resort areas and on the islands of Greece with a season from 6 to 9 months a year, and, of course, to city hotels in Athens and Salonika.
Investments in the hotel business are the most striking example of profitable investments in the Greek real estate market. The tourists flow provides profitability of resort and city real estate for many years to come and the dynamics of changes in prices for rental of rooms allows you to start to get significant profits six months after buying a hotel.
According to the Ministry of Tourism in 2017, Greece received a record 27.5 ml of tourists. And by 2021, the annual tourist flow will exceed 31 million.