Changing the Real Estate Market in Greece
The Greek startup Prosperty aspires to offer buying, selling and renting real estate through the computer screen, without intermediaries. At a time when the coronavirus has put an end to many everyday issues, there are many who want to rent a new house, buy an apartment or invest in a property, since the domestic market […]
Digital Services are the Future of Real Estate
This interview given by Antonis Markopoulos, co-founder and CEO of Prosperty to Mary Papakonstantinou of newsit.gr, focuses on the prospects of real estate during coronavirus and development opportunities for startup companies. What are the market gaps that Prosperty fills? Prosperty is an innovative online real estate trading platform that brings transparency to transactions and enhances […]
Calculating Property Tax in Greece?
From 2013 onwards, every owner of real estate in Greece is subject to an annual tax for his property. This tax is called “Uniform Real Estate Property Tax”, or “ENFIA”. The principal tax is calculated based on the location, area, age, floor, number of façades of the building and its use (residential or commercial). ENFIA […]
What’s the process for issuing a Golden Visa in Greece?
The issuance of a residency permit in Greece, through the relative program, can be granted through the acquisition of one or more properties. The minimum amount of investment is set at 250,000 euros, without any other limitation to the permitted amount of investment. According to Enterprise Greece, who is the national organization, under the jurisdiction […]
How to Buy Property in Greece
The procedure to buy a property in Greece can be both time and money consuming, if you’re not aware of the necessary documentation, your rights and your obligations. For that reason, it’s strongly recommended that any potential buyer/investor hires a specialized real estate professional, who will guide you through the whole process, especially if he’s […]
Buying a Retirement Home in Greece
The Benefits of Retiring to Greece! During 2020, the Greek government voted a series of tax benefits, designed to attract foreign investment in the country and boost the real estate market. These benefits are of particular interest to digital “nomads”, or any other citizen interested to relocate and work in Greece, even though his employer […]
Real Estate Taxes in Greece
According to the analytical guide by the Hellenic Property Federation, the basic taxes which are payable by the buyer is the Property Transfer Tax, which has a rate of 3% of the property’s value, or the VAT (Value Added Tax), which has a rate of 24% of the property’s value. VAT is applied to every […]
Rental Properties in Athens
“Generation of Renters” in Athens Based on data compiled by the Bank of Greece, from 1998 and until 2019, residential prices in Greece grew by a total of 57%, even after an average fall of 44% during the era of the financial crisis, which lasted from early 2009 and up until the end of 2017. […]
Buying a House or Property in Greece
Buying property in Greece is a life-long dream for the majority of locals. As a result, the country has one of the biggest percentage of owner-occupied properties in the EU (72.3% based on the latest Eurostat data). However, over the course of the past few years, buying interest has intensified by people from other countries […]
High Yield investments in Greece
Which investments in property return the highest yields? According to the latest available data from research firm Numbeo (First Half of 2020), renting an apartment in the center of Athens offers a gross annual yield of 4.35%, when the Greek 10-year bond is now trading at levels well below 1% (0.63% as of December of […]
