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Greek Property Investment: Insights from a Podcast with Yiannos Trisokkas

Thinking about investing in real estate can feel overwhelming, but Greece is showing up as a promising spot for many investors. This topic was covered thoroughly in a recent podcast with Yiannos Trisokkas, the CEO of Velment, who explained why buying property in Greece is becoming increasingly popular.

Why More People Are Buying Property in Greece

Great Economy and Low Property Prices

Lately, Greece’s economy has been doing really well—better than big economies like Japan and Germany. What’s more, the cost of property in Greece is some of the lowest in Europe, and when you look globally, it’s still really affordable. The Greek government has made some smart moves, like not charging extra taxes on property purchases until 2025, which makes buying there even more appealing.

The Golden Visa Program

Yiannos spent a lot of time talking about Greece’s Golden Visa program. This is a big deal because it lets you live in Greece if you buy property that’s worth at least €250,000. This amount is pretty low compared to other countries, which makes Greece an especially good place to invest in property. However, it’s important to act quickly as Yiannos highlighted a recent change in legislation: the government has announced that the investment threshold for the Golden Visa will increase from €250,000 to €400,000 or €800,000, depending on the location, effective immediately and lasting until the 30th of September this year. This makes now a critical time for investors wanting to secure a Greek residency at a lower investment level.

Why Investing in Greek Property is a Smart Move

Big Tax Breaks and Government Support

One of the best parts about buying property in Greece right now is that the government has put a stop to VAT on property sales until 2025. This can save a lot of money for buyers. They’ve also reduced property taxes by up to 13%, making it even more affordable to buy there.

Booming Tourism and High Demand for Property

Tourism in Greece has really picked up, with three times more visitors coming after COVID than before. This increase in tourists means more people are looking to rent homes and spaces, which pushes up the demand for properties. Places like Athens and famous islands are particularly good for buying property because of this high demand.

Profitable Returns on Investments

Yiannos pointed out that investing in Greek property usually leads to good profits, often more than 6%. There’s a huge demand for more houses which means property values are likely to go up, making for profitable returns over time.

Yiannos Trisokkas shared many reasons why now is a great time to consider Greek real estate. With generous tax breaks, a surge in tourism, and competitive property prices, Greece offers many opportunities for those looking to invest in property. Whether you’re after a lovely vacation home or a property that earns money, Greek real estate is worth thinking about for anyone interested in making a wise investment.