According to the Bank of Greece, by the end of 2023, property prices in Athens had approached their pre-crisis peak of 2007, and have increased by 42% over the past 3 years.
The reasons that attract investors:
- ⚡️ no capital gains tax on sale
- ⚡️ moratorium on 24% VAT when buying on the primary market
- ⚡️ only the property transfer tax of 3% is paid when buying real estate
The most interesting areas for investment, including for investment, are the following locations:
1️⃣ Piraeus is one of the largest ports in Europe and a profitable investment destination. Over the year, property prices here have increased by 23.2%.
Piraeus is both an industrial port with excellent logistics and a tourist port, which determines both short-term and long-term rent. The infrastructure can also become an investment attraction: underwater sports palaces, coastal parks, medical centers, Karaiskakis stadium, which hosts the Champions League.
2️⃣ Egaleo is another popular residential area in the west of Athens, but quieter than Piraeus. The area is intended for students and families with children. There are many green spaces and park areas, as well as one of the most beautiful public swimming pools, which is popular all year round.
Also located on the site are 3 campuses of a prestigious university, the Attic olive grove, Barutadikos park with an open-air cinema, sports arenas and an open public swimming pool.
In Egaleo, a studio apartment or a one-bedroom apartment will be a profitable investment – this is the segment that is most in demand.
The two above-mentioned locations are the center of all investments in Greece, so we recommend that you have time to make an investment at this stage: until prices have risen to their peak.
Here are some additional factors that make Athens an attractive investment destination:
- A growing economy: The Greek economy is expected to grow by 3.5% in 2024, which will create new jobs and boost demand for housing.
- A stable political environment: Greece has a stable political environment, which is important for investors.
- A favorable tax regime: Greece offers a number of tax breaks for investors, including a 10-year tax exemption for new businesses.
- A strategic location: Greece is located at the crossroads of Europe, Asia, and Africa, making it an ideal location for businesses looking to expand into new markets.
Overall, Athens is a city with a lot to offer investors. With its growing economy, stable political environment, favorable tax regime, and strategic location, Athens is an attractive investment destination for both domestic and foreign investors.
