According to the Bank of Greece (BoG), of the 2.1 billion euros of foreign direct investment invested in the Greek economy in the first half of 2024, 54.2%, or 1.14 billion euros, were directed to the purchase of real estate, mainly residential.
This is a new record, continuing a trend that began in 2023 and, apparently, will intensify.In the first quarter of this year, the share of the real estate market in FDI amounted to 43.3%, while 520 million euros were received, and the total volume of investments from abroad reached 1.2 billion euros.
However, the situation changed in the second quarter: foreign investments in real estate amounted to 622 million euros, while the total volume of FDI did not exceed 900 million euros.
In 2023, the share of the real estate market in the total volume of foreign investments was 47%.
Real estate market experts note that recent measures taken by the government raising the investment threshold on the "Golden Visa" and banning new short-term rental contracts in the center of Athens will lead to a decrease in the activity of foreigners in the Greek housing market.On the other hand, it is possible that the easing of the ECB's monetary policy, lower inflation and improved macroeconomic conditions abroad will contribute to the recovery of other types of investments in the Greek economy, which significantly decreased in 2022-2023.
Source: Ekathimerini
