When we think about the best places to visit around the world, many variables apply. Some are looking for the best beaches, the sunniest weather and the best night lives. While others look for richness in history and a rich cultural heritage.
Others however, are not exactly looking for the best destination to travel to have fun and a rich learning experience. International investors are looking for the best cities in the world to generate a good ROI (Return on Investment), and Greece has become surprisingly attractive for investors.
The capital of Greece or the Hellenic Republic, Athens, is still struggling after the tough economic crisis that attacked the Eurozone in 2008, and Greece was one of the most affected countries. However, prices in the Hellenic capital seem to be a good selling point for investors.
Greece for real estate investment
Among the countries more hardly affected by the Eurozone crisis of 2008, Spain has started showing signs of a recovery. Greece, however, seems to still have some path to go through ahead before it finally can be considered out of the crisis and thriving.
But this doesn’t mean that investing in Greek real estate is a bad idea. Actually, despite the economy, Greece has been an important center for tourists from all around the world, especially in the most touristic places in Greece, such as Mykonos and Santorini.
What about Athens? The Greece capital, and one of the cities that helped to shape the entire western culture, is still struggling, but it offers certain advantages to investors, which makes investing in Athens real estate a viable option if the opportunities are taken wisely.
First of all, as Spain, Portugal and Latvia has been doing; Greece is also looking to stimulate international investment by offering a Golden Visa. But as opposed to the Iberian countries, an investor is able to obtain a Golden Visa for a much lower price of at least €250,000, half the minimum for Portugal and Spain.
Are there risks when investing in Athens real estate?
Investing in real estate in Athens, Greece, might be considered a bit of a high risk investment, since Greece economy is still slowly recovering, and there are other places in the Hellenic Country with most possibilities such as the hotel sector.
However, Athens continues to be the capital and largest city in Greece, and therefore, people will continue to choose the city for making business and for rent. Also, the prices of real estate in Athens are considerably lower, which makes it cheaper to get a Golden Visa in Greek.
In regards to Greek economy, even though the economy is still below ideal, it’s slowly getting stable, and from there, it should start raising within a few years, making its capital, Athens, one of the most positively affected places in the country.
Even if there might be some risk for international investors in Athens, real estate investment continues to be a safer market, and more tourists are getting interested on visiting one of the most important historical cities in the western world. There’s also a potential growth in property prices in Athens, which makes it exciting to buy real estate in Athens now, while it’s still one of the cheapest places to get a property right now.
If though carefully, considering the variables, and making a safe purchase, investing the Athens could potentially yield good results.