ATHENS, GREECE, November 17, 2021 /EINPresswire.com/ – When it comes to international real estate investing, Athens, the Greek capital, tops the list. Its economy is improving, excellent foreign schools and many attractions for expats. It’s hard to resist Athens, which allows its citizens to relax on beautiful beaches after a long day of work. As an EU city with excellent beaches, a rich history and a lower cost of living than many European capitals, Athens is special.
Real estate prices are still down 25% in Athens, compared to pre-crisis levels in 2011. This percentage is 10% for the Athenian Riviera, also known as South Athens. However, this is the change with so many incentives and projects going on.
Why invest in real estate in Athens
Although the country’s real estate sector has been dormant for several years, Athens is playing a huge role in its rebirth. Let’s explore how Athens is changing the real estate scene in Greece.
Athens is the most liquid real estate market in the country
Athens is Greece’s most popular city when it comes to starting a business, working for a business as an expat or for no specific reason, just for a change of life. This makes the real estate market in Athens much more active than the rest of the country, both in terms of property sales and the rental market. There are reasons for this: the economic heart of the country, the presence of international companies, good international schools, the capital of the EU where you can enjoy nature and the sea, much lower stress levels to those of comparable European cities.
Recent tax breaks for international real estate investors
This is a huge motivation for non-Greek investors, especially retirees. If you are a retiree who moves to Greece and becomes a tax resident, you can benefit from a flat tax rate of 7% on your income acquired abroad.
The Greek economy will benefit from the digital nomad visa
Greece is working on a digital nomad visa program to attract freelancers, entrepreneurs and digital nomads to the country. Once approved, this program will allow digital nomads to stay in the country for up to 18 months. According to a study by the Massachusetts Institute of Technology, attracting 100,000 digital nomads could attract 1.3 billion euros to the country. In addition, rental prices will skyrocket when the demand for housing increases.
Hellinikon project arouses interest
The Hellinikon project is expected to bring a lot of buzz to Athens. Located near Glyfada, a hotspot on the Athenian Riviera, it is the largest regeneration project in the country. The project transforms the old airport into a complex comprising a hotel, shopping center, residential buildings and a marina. The Hellinikon project is expected to raise real estate prices in Athens.
The new metro line will add value
The Greek government is working on a new metro line from Galatsi to Goudi. This new line, called Line 4, will cover nearly 13 km and will serve Athens, Galatsi, Kessariani and Zografou. This project will increase housing prices in the capital.
In addition, the Athens metro now extends to Aghia Varvara, Korydallos, Nikea, Maniatika and Piraeus, with 6 new stations and 7.6 km of metro line.
Road to the residence
Another advantage of investing in real estate in Athens is the Greece Golden Visa program. If investors acquire a property with a minimum value of € 250,000, they could become eligible for a Golden Visa, which results in residency in Greece. This is a huge motivation for non-European investors who seek the freedom to travel to Schengen countries.
What can Golden Visa do for you
Get Golden Visa is a tailor-made investment advisory firm. We help people gain additional residency and citizenship by making a qualifying investment through home ownership, fundraising, or other investment vehicles.
With our team of legal professionals in Greece, we offer our clients a tailor-made and transparent journey in their quest for the Golden Visa for Greece.
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