In the period from January to July 2014, the total volume of foreign investments in Greek real estate amounted to 117.4 million euros. Since the peak pre-crisis level, prices have decreased by 40%, foreign buyers can still count on significant discounts, which stimulates an increase in prices for resort real estate.
Already at the end of 2013, the total volume of foreign investments in Greek real estate reached 168 million euros. By the end of 2014, this indicator could significantly exceed the level of 2013, however The ambiguity in connection with the real estate tax has forced many investors to delay their purchase. Nevertheless, the purchase of real estate in Greece remains attractive for foreign investors. Since last year, the tax on the purchase of real estate has decreased from 8-10% to 3%. In addition, buyers of real estate in the amount of 250,000 euros have the opportunity to obtain a residence permit. All this gives reason to expect the market to soon absorb unsold real estate, which currently has 30,000-40,000 properties across the country. Now the demand of foreign buyers is concentrated on the Cycladic Islands, in particular, Mykonos and Santorini. The resorts of Crete, Rhodes and Corfu remain popular. HomesOverseas.ru
