Athens-based Architect Katerina Sirouni reveals 3 reasons you should buy Greek property now, and gives some tips on how to find the right place. Find out!
Is now the time to buy Greek property?
Is it time to buy Greek property? You may be asking yourself this question right now. The answer is YES! There are many opportunities to find a good Greek property now. Prices are still low, but that could change as conditions in the Greek Real Estate Market are changing. If you’re still on the fence, I’ve got 3 reasons why you should buy Greek property now. Read on!
Now’s the time to buy that Greek property you’ve been dreaming of. IMAGE: ksirouni.com
3 reasons why you should buy Greek property now
Do you stay with family when you visit Greece? While Greek filoxenia is pretty amazing, it’s nice to have your own home base. Perhaps your family is growing and you feel like you’re imposing when the whole family comes along. Sometimes you just need your own space, too. And hotels can get expensive.
Greece is an amazing place to visit all year round! The sun, beaches, food, wine, outdoor adventures, art, and history are but a few reasons that make Greece the perfect holiday getaway. If you have your own place, it’s easier to visit any time of year.
If you’re Greek, likely you feel very connected to this land. What better way to plant some roots in your ancestral land than to buy a property, so you can visit more often! Your own home in Greece can offer a sense of belonging, creating an even more special bond with your heritage.
Depending on your stage in life, you may or may not be thinking about this. But wouldn’t it be nice to look forward to retirement in one of the most beautiful places on earth?
Greece holds a high place on many foreigners’ list’ of retirement destinations — and there’s a good reason for that. According to The Telegraph, Greece ranks 10th among the best places to retire in the world.
Perhaps you’ve considered purchasing a Greek property to move sooner than retirement. Greece is ideal for people of Greek descent as well as non-Greeks, especially for those with savings set aside or for those who can secure a steady income from abroad. Aside from the obvious reasons mentioned above, there are others to consider. The low cost of living, safe environment, plus affordable private healthcare (compared to other countries), are among the most important factors foreigners consider when retiring or relocating to a new country. Greece ticks all the boxes.
3) Investing in an income property
With Greece still embroiled in an economic crisis, many may ask, “Why invest now?” when the question should be, “Why not invest in Greece now?” A recent article in Forbes, stated that now is definitely the time to buy! Prices of Greek property have decreased dramatically, creating opportunities for foreign investors.
Location and timing are everything in real estate. There are plenty of options at good prices for all budgets — depending on the location and the type of property. The Greek Real Estate Market can be an inviting, low-risk investment, especially when your holiday home expenses can be covered by short-term rentals throughout the year. And if you’re wondering how in the world you’d manage a property from abroad, a firm like ours can definitely help you with that.
Wouldn’t it be nice to come home to this? IMAGE: ksirouni.com
BONUS! Hints & tips for finding your perfect Greek property
1) Visit different neighborhoods
Explore your options. Different neighborhoods have a different vibe. Walk and/or drive around any neighborhoods you’re interested in. Go there during the day and the evening. Go on a weekday and a weekend. Read local newspapers and magazines, but see for yourself. The only way you’ll find the right one for you is to experience them in person.
2) Be flexible
Make a list of your must-haves, but be flexible! There are 3 things you should definitely keep in mind: location/view, square meters/area, and price — but be open to other options. There are always trade-offs. Maybe you need more space, so to stay within budget, you might select a bigger place without a view. Or if that Acropolis view or proximity to the beach is your top priority, you might opt for a smaller place. You might even travel just a bit further from your ideal location to secure that perfect place. Those are a few examples, but definitely, be flexible.
3) Keep your budget in mind
Remember, aside from the purchase price, there are additional costs involved in purchasing a Greek property. Do your homework and get educated. These costs can add up quick.
Related: 6 Things You Need to Know Before You Buy Greek Property
Not sure where to start?
When you make the decision to go forward, do contact a licensed, reputable, and knowledgeable Architect Engineer/Property Manager. They can help protect your interests when you buy that Greek property. They can also help you plan, navigate local regulations, renovate, and then ultimately manage the property locally. Now all that’s left is to book your ticket and come search for you perfect Greek property!
If you have any questions, send me an email.
Learn more about Greek property laws with Katerina Sirouni: