Real estate in Greece in a few words
Buy a house in Greece
In Greece, the single tax on real estate property is progressive (up to € 400,000, 0%, the maximum rate of 1% being applied to properties over € 800,001).
Provided you bet on more confidential islands, it is possible to buy a house with sea views for an amount ranging between 250,000 and 300,000 euros.
Until 2011, real estate was not taxed. But four years ago, the government of George Papandreou, already under pressure from creditors of the country, adopts a tax on real estate property, in other words a property tax. The latter is directly deducted from the electricity bills of the Greeks. It varies according to the size, use and location of the property. A new tax replaces it in 2014 to generate 3.2 billion euros of revenue to the state.
With the new tax zoning introduced in 2011, some families find themselves having to pay a tax that ranges from 1 euro to 16 euros per m2 depending on the geographical area in which the property is located.
It is also the only country in the European Union that does not have a land register to determine the land properties of a territory. A special story, result of multiple land status that coexist in Greece since the Byzantine, Ottoman empires. To date, no politician has embarked on such a project to reform this particular Greek.
In the suburbs of Athens, 50 m2 for 30 000 €
To achieve good business, we must forget the sea and its whitewashed houses. Direction Athens where the collapse of prices is concentrated on the mid-range. “We find apartments of 40-50 m² in peripheral district for 30.000 euros”.
And in the capital, the stock of apartments is not lacking. We are talking about 200,000 to 300,000 apartments, built in the 2000s and now vacant.
The Greek middle class, impacted by the reforms, is forced to sell or sell the apartments. “In some cases, there is a 60% drop,” the officer blows. So maybe this is where the foreign public can find the rare pearl. At a stone’s throw from the Marble stadium, in Athens, a French retiree has offered a 50 sqm for a whopping 50,000 euros.
By heading to the upscale neighborhoods of the capital, the price decline begun in 2009 is also confirmed. Like Kolonaki, in the center of Athens, with prices that dropped by 40% in 6 years. “Before, we sold nothing below 3000 euros per m2, now we are at 1200 euros per m2”. “In the neighborhoods listed, it was 5000 euros per square meter in 2009, now we are between 2500 and 3000 euros.”
Even the southern suburbs of Athens, popular because beachfront, like Paleó Fáliro or the very bling-bling Glyfada have seen their prices plummet in a few years: between 1000 and 2000 euros per square meter 50% drop.
Real estate suspended on new European agreement
If foreigners can boost real estate, including the incentives introduced like Golden Visa to attract foreign capital in Greece, the Hellenes they do not buy anymore. “People are forced to sell because they have no money to live and pay taxes.” For 5 years, the purchased goods are decreasing, but this year 2015 is already the blackest. And yet, the Greek National Bank notes that prices have fallen by 40% in the last five years, says a notary.
Presentation of the country
Located in Southern Europe, Greece or the Hellenic Republic, which currently has about 9.9 million inhabitants, is home to the history of Western civilization. The country is made up of more than 9000 islands and islets distributed in the Aegean Sea, the Ionian Sea and the Mediterranean Sea. Greece joined the European Union in 1981 and is also a member of many world organizations. The current regime is a parliamentary republic. The capital is the eternal city of Athens. The motto of the country is “freedom or death” and its hymn is called “Hymn to freedom”. The currency of the country is the euro.
Cradle of Western civilizations, Greece has a fascinating history, for thousands of years. From ancient Greece, to the Byzantine Empire and then Ottoman rule, passing through Hellenistic and Roman Greece, the country is steeped in history and incredible archaeological sites. History or mythology, it is sometimes difficult to know. What is certain is that during a trip to Greece, re-reading in detail all these myths and moments of the country’s history is very interesting and rewarding.
A seaside and cultural destination, Greece has an incomparable tourist offer. Its many archaeological sites bring history and myths to life! An ancient theater or amphitheater, a Roman port, the Parthenon or even a Roman temple punctuate the Mediterranean landscapes of Greece. While walking in the villages, white houses with blue shutters will also disorient you. The country, 80% mountainous whose highest point is Mount Olympus with 2917 meters above sea level, is dotted with wonderful islands, turquoise waters and white rocks. It is a real pleasure to go on holiday in this country for the diversity of activities because you can mix culture, nature and relax! Live with Mediterranean rhythms and let yourself be seduced by the culinary riches of the country!
Greece has 13 peripheries, 54 prefectures and 814 cities.
Greece is a Western European country with an area of 131 957 km² (density of 85.3 inhab./km²).
Capital of modern and ancient Greece, Athens keeps the sublime traces of its glorious past as the dominant city of antiquity. With nearly 750,000 inhabitants today, the city is located on the plain of Attica on the shores of the Mediterranean Sea. Source of democracy and philosophy in the West, Athens is the city dominated by the famous Acropolis, registered since 1987 on the list of World Heritage of Humanity by UNESCO. Built around the 7th century BC, the Acropolis alternately serves as a fortress before becoming a sanctuary. Today, you can visit the Parthenon, the Theater of Dionysus, the Erechtheum and the Temple of Athena Nike. In terms of art, do not miss the National Archeology Museum and the National Pinacoteca of Athens, where the 15,000 greatest masterpieces of Greek art are gathered. For snags in the markets, take a walk on the side of the covered market of the city (Athinas Street).
Major cities of the country
Athens Capital of Greece
Athens keeps incredible traces of its glorious past as the dominant city of antiquity.
It is a city with a rich architectural heritage, close to many seaside resorts.
The city of Thessalonica (also called Salonica) was founded in the 4th century BC by Cassandra of Macedonia. The latter named the city Thessalonica, in honor of his wife – half-sister of Alexander the Great – who bore the same name. Ideally located on the edge of the Thermaic Gulf, the city is one of the most popular tourist destinations in Greece and the Mediterranean. It must be said that its natural setting is particularly pleasant: the city is close to many seaside resorts on the edge of the Aegean Sea. Its cultural and artistic life is also very rich, to the point of making it the cultural capital of Greece. See also in the city: the early Christian and Byzantine monuments including the Church of St. Sophia, the church Hagios Demetrios and the Arc de Galère, all listed as World Heritage by UNESCO. The Turkish influence is also very strong in the city: the mosques Hamza Bey and Isaak Pasha are witnesses of the Turkish presence in Thessaloniki for several centuries.
One of the most important cities in the country, Corinth is known for its long canal and its famous grapes.
Located north of the Peloponnese peninsula, between the Mediterranean Sea and the Aegean Sea, the city of Corinth is the perfect stage after a few days spent in Athens. Corinth and the Peloponnese have been attached to Greece since the 19th century thanks to a narrow bridge built above the Corinth Canal. After many destructions in the 1850s, Corinth remains one of the most important cities of Ancient Greece. Ruined archeological sites are just as charming to history and myth lovers. Among them: the ruins of the Agora, the temple of Aphrodite, the site of Acrocorinth, public baths, a triumphal arch, the temple of Apollo … The city has also undergone significant development and offers all amenities of a busy city center. Not far from there, some villages with pretty beaches allow to cool off. A glass of wine and some famous currants, and the loop is complete!
Patras north of the Peloponnese peninsula
Patras is an important industrial and port city that was European Capital of Culture in 2006.
In the big cities, the post office is generally open from 8:00 to 17:30 (16:30 for small towns), from Monday to Friday. On Saturdays, offices open from 08:00 to 12:00; they are closed on Sundays. Effective staff and perfect organization. The central post office is open from 8 am to 6 pm, Monday to Friday, and on Saturday from 9 am to 1 pm. Price of a letter for Europe: about 10 baht.
It is a mixture of ancient architecture results of many invasions and recent constructions.
The medieval city of Rhodes is a beautiful city located on the island of the same name.
Originally an island, the city of Piraeus is an important port of Athens that allows departures to the main Greek islands.
Located between Athens and Thessaloniki, the city of Larissa is dotted with fountains.
Peristerli, the sixth largest city in Greece, is in the suburbs of Athens.
Pátmos-city On the island of Patmos
Pátmos-city also called Hóra invites to the walk in its pretty streets and its rich historical center.
When we talk about a trip to Greece, we first think of visiting its ancient treasures such as Mount Olympus or the Acropolis of Athens. Difficult to ignore the rich past of the Greek territory when we know that the first human traces date back to the Paleolithic period. But Greece enjoys countless other tourist attractions, which make it one of the favorite destinations of the French.
Want to know more about real estate investing in Greece?
Feel free to contact us, 21 home real estate agency, helena pires and their team will be happy to meet your needs and accompany you in your real estate project from the start to the end.
You want to buy a property in Greece?
Contact us on 0033 (0) 624 713 315 or via e-mail