Greece is a country known for its stunning islands, rich cultural heritage, and beautiful landscapes, making it a popular tourist destination. In recent years, it has also become an attractive location for real estate investors looking to purchase properties in the country’s islands. Here are the top 7 Greek islands to invest in real estate:
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- Zakynthos: Also known as Zante, this beautiful Ionian Sea island known for its stunning beaches, crystal clear waters, and lush greenery. It has a thriving tourism industry, making it an ideal location for real estate investors looking for a property that can generate rental income. The island offers a range of properties, from traditional houses to modern villas, at competitive prices compared to other popular Greek islands. Additionally, the Greek government has implemented policies to attract foreign investors, making it easier for non-EU citizens to purchase properties. Overall, Zakynthos offers a great investment opportunity for those seeking to invest in a beautiful island with a thriving tourism industry and competitive real estate market.
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- Santorini: This Aegean Sea island is famous for its white and blue buildings, crystal clear waters, and beautiful beaches. It has a vibrant nightlife and is a popular tourist destination. Its high demand for rental properties makes it a great investment opportunity, and its strict construction regulations and limited land availability make properties valuable.
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- Mykonos: Another Aegean Sea island, Mykonos is famous for its traditional architecture, beautiful beaches, and lively nightlife. It is a popular destination for celebrities and has a booming tourism industry, making it a great place to invest in real estate. Like Santorini, it has strict building regulations and limited land availability, which makes properties valuable.
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- Leros: A lesser-known Greek island located in the Dodecanese archipelago in the southeastern Aegean Sea is Leros. Despite being relatively unknown to tourists, Leros has a lot to offer, including beautiful beaches, crystal clear waters, and a rich cultural heritage. The island is also known for its traditional architecture and peaceful way of life. Real estate prices on Leros are relatively low compared to more popular Greek islands, making it an ideal location for real estate investors looking for a great investment opportunity. Overall, Leros is a hidden gem that offers great potential for real estate investors seeking a beautiful island with a laid-back lifestyle and a competitive real estate market.
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- Crete: The largest island in Greece, Crete, is known for its rich history, stunning natural landscapes, and beautiful beaches. It has a diverse range of properties available, from traditional houses to modern villas, making it an ideal location for investors to find their ideal property. It also has a thriving real estate market.
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- Corfu: This Ionian Sea island is known for its lush greenery, stunning beaches, and historic architecture. Its thriving tourism industry makes it a great place to invest in real estate, and its range of traditional houses and modern villas makes it ideal for investors looking for their perfect property.
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- Rhodes: This Aegean Sea island is famous for its medieval architecture, beautiful beaches, and rich history. It has a thriving real estate market and is a popular tourist destination. Properties on the island range from traditional houses to modern villas.
These seven Greek islands are great places to invest in real estate due to their strict building regulations, limited land availability, and thriving tourism industries. Whether you’re looking for a rental property or a second home, these islands offer excellent investment opportunities for real estate investors. Take the first step towards by contacting Romano International today for top-notch service and expert advice.
Greek Housing Market Update
The upward trajectory of Greek house prices persists, fueled by surging demand from international buyers and the country’s sustained economic expansion. Residential Property Prices in Greece witnessed a significant surge, recording an 11.93 percent increase compared to the same month in the previous year according to the Bank for International Settlements.
In urban areas of Greece, house prices have experienced significant growth. A key factor attracting foreign investors is the Golden Visa Program, offering residency to non-EU investors who purchase or rent property exceeding €250,000. Notably, in August 2023, the cost of obtaining a Greek Golden Visa doubled to €500,000 in the most sought-after regions. This program, valid for five years, can be renewed.
Although the overall economic growth is expected to continue in the current year, projections indicate a moderation in the pace. The International Monetary Fund (IMF) anticipates a modest 2.5% expansion. The convergence of these factors positions the Greek real estate market as a dynamic and attractive investment landscape.
Head over to our home page and “Request an Advisor” to guide you through the process of acquiring a property. Our team is dedicated to making your Greek real estate dreams a reality.
