There are endless old tales about the legend of Greece, but very few tell you what you should know about securing property in the country. Greece is indeed a naturally beautiful nation with a mild climate that marks it out as one of the world’s most desirable living destinations. It is also a suitable place to raise a family in a politically stable environment and has loads of investment opportunities.

If you dream of sharing in the history of this remarkably irresistible country, buying property in Greece is most likely on top of your key priorities. Property ownership is a strongly cultured thing in the country, as approximately three-quarters of residents own homes. This is mainly due to the strong family values and property inheritance. There is nonetheless still plenty for you to purchase. However, you first need to know what it takes to be a property owner in the country.

Why Greece is a good place to invest?

The economic footing of Greece has not been too good in recent years. There was a major economic crash in 2009, which led to a slump in the property market’s growth. Moreover, the recent Covid-19 pandemic has exacerbated the chances of economic recovery. Thus, the country may not look like a nice place to put your money for real estate investment.

However, the economic slowdown is a blessing in disguise for real estate investors. This is the perfect opportunity to purchase an undervalued property. Greece also recorded impressive economic growth in 2019, and this is good news for real estate investors. There was a 3.38% increase in property prices in urban areas. This shows that an upward trajectory is in the offing, which is economically feasible for real estate investment.

Can foreigners buy property in Greece?

Foreigners can own property in the country. Nonetheless, this is easier for EU residents than those outside this region. There are no constraining factors for EU members, but the procedure is more complex for non-EU residents.

The prerequisite condition for non-EU members is to show their affiliations to the country and what they want to do with the property. They need to make an application to the Ministry of National Defense, which is relatively straightforward. Just submit the essential documents and kick start the proceedings to owning a property in the country. 

Is Citizenship by investment viable?

Citizenship by investment is viable for all people via the Golden Visa Program. This is the ultimate reprieve for UK citizens who now have a chance of owning property and becoming citizens of Greece. The terms are also easy to achieve. An investor only needs to buy a property with a value of at least €250,000. Additionally, you need to meet other basic conditions such as possess no criminal record and have access to health insurance. 

Once you fulfil these conditions, you will be granted a Golden Visa. It allows you to stay in the country for five years. You can opt to stay in the property or even rent it out if you are not planning to live in Greece. Also, the Golden Visa covers the holder together with the immediate family members. 

If you want to pursue this option, contact the service of our Mortimer’s International experts to find you the most affordable and undervalued real estate in Greece. We do everything for the clients, from identifying the property to facilitating the purchase process. All the client needs to do is engage our experts, and we will get the wheels rolling immediately.

 The Golden Visa is also the key to realizing your dream of being a permanent Greece citizen. With this visa, you are eligible for at least five years in the country. After this, you can renew your visa for an additional period. A total of 7 years in the country will guarantee you permanent residency via naturalization.

Best places to buy property in Greece

There are overwhelmingly a lot of places where you can purchase property in Greece. If you are a city life enthusiast, there’s a property for you. Even if you want a stake in the quiet fishing villages where you can lead an anonymous life, our Mortimer’s International property seekers will sort you out. Among the best places that you can consider buying include:

Corfu 

This is a favourite destination for UK ex-pats. It is home to a UNESCO heritage site and many other key tourist attractions. So if you love living in an environment with an enriched cultural setting, Corfu will serve you best. 

Zakynthos/Zante

Having a stake in a Greece Island is not a bad idea, and Zakynthos/Zante presents you with that opportunity. There are several key attractions here, such as beautiful scenery and beaches. In addition, it is the ideal place for family gatherings, and you would undoubtedly relish having property in such an environment. 

Crete

Crete is known for its safety, and it is a top destination for UK ex-pats. There is plenty of sunshine and beautiful scenery, making owning a property here a perfect investment idea. 

Athens

You also have a chance to buy property in arguably Greece’s most storied city in history. Here, you are well connected to any part of the world. However, given its standing as a major world city, you’ll have to dig deeper in your pockets to purchase property in Athens.

How Mortimers International can help?

Real estate is a highly lucrative field and we have been in this industry since 2001. Our longevity in the industry marks us out as among the preeminent realtors. We do not just show you where the property is. We are involved throughout, from the identification of property to the last point of purchase. Our agents have had loads of years in international real estate investment. You can, therefore, bank on us to create value for your money by providing researched expert advice on real estate investment in Greece at the most affordable rates in the market.