Why More and More Expats are Buying Luxury Real Estate in Greece

The luxury real estate market in Greece has seen a remarkable rise in recent years, with an increasing number of diaspora Greeks choosing the country as a prime destination for property investments. This growing interest is no coincidence. There are several factors making Greece highly attractive to these investors, many of which are linked to economic and social stability, quality of life, and the comparative advantages of the market. Let’s delve deeper into these reasons.

A Connection to Their Roots and a Sense of Belonging

One of the main reasons expats are investing in property in Greece is the strong emotional connection they have to the country. As the birthplace of many in the diaspora, Greece offers them the opportunity to return to their roots and live closer to family and friends. Purchasing luxury real estate in Greece is not just an investment; it’s a way to strengthen ties with their homeland and create a second home base for their lives.

The Stability and Opportunities of the Greek Property Market

In recent years, the Greek property market has experienced significant recovery, particularly in popular areas such as the Athenian Riviera, Santorini, Mykonos and Crete. Following the economic crisis, property prices in Greece were at historically low levels, creating a unique opportunity for investment. Although prices have risen in recent years, the Greek market remains more affordable compared to other internationally recognized and expensive regions, and expats see it as an opportunity to purchase property in areas with high growth potential and strong prospects for rental income and value appreciation.
The growth of tourism in Greece, along with improved infrastructure and increasing demand for luxury accommodations, makes the Greek property market an attractive choice for long-term investment. The short-term rental sector, via platforms like Airbnb, continues to boost returns, making the country even more appealing to investors.

Infrastructure Improvement and the Rise in Quality of Life

Greece has made significant strides in recent years in improving its infrastructure. From airport upgrades to investments in ports and road networks, the country now offers easier access for international visitors and businesspeople. For expats, who often have easy access through direct flight connections, this improvement is especially valued as it reduces distances and facilitates connections between Greece and the rest of the world.
The quality of life in Greece, with its mild Mediterranean climate, beautiful beaches, and rich cultural heritage, is another factor making property investments highly attractive. Greece offers a unique balance between modern urban life and serene natural beauty, drawing investors who seek a stronger connection to the country’s everyday life.

Tax Incentives and Streamlined Property Acquisition Process

Greece offers a range of tax incentives and favorable procedures for investors, including tax reductions and lower property transfer taxes. Additionally, the government ensures tax stability for investors, offering favorable terms over the long term. Through the “Golden Visa” program, investors purchasing properties worth €250,000, €400,000, or €800,000—depending on the area and category of the property—can obtain residence permits for five years, with the possibility of renewal for themselves and their families.
The property acquisition process has been simplified, with easier registration and reduced bureaucratic delays. At the same time, the government provides incentives for renovations or new property developments, boosting the tourism and residential infrastructure. There are also funding programs and grants available for property upgrades.

Greece as an Attractive Destination for Professionals and Entrepreneurs

For expats, Greece offers an excellent opportunity to invest in commercial real estate and start or expand their business activities in the country. Its geographical location, relationships with other European and Middle Eastern countries, and the growing economic development offer many prospects for building international business networks.

In conclusion, the increasing interest of expats in luxury real estate in Greece is driven by a combination of emotional, economic, and practical factors. The country offers a high quality of life, a stable and growing property market, favorable tax incentives, and a strong connection to their roots. Greece is now one of the most attractive investment destinations, with opportunities for high returns continuously on the rise.