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Real estate in Greece: pros and cons

At first glance, it is now more profitable to buy real estate in the secondary market in Greece. Due to the crisis, almost no new construction has been carried out in recent years, developers have completed previously announced projects, and the shortage of new buildings is already noticeable. 

Buying a villa for sale in Sithonia Halkidiki is popular, on the one hand, because of the vast beaches and pine forests, on the other hand, a modest purchase budget compared to the islands.

Main advantages

It is a pleasure to have housing in one of the sunniest countries on the planet and the pearl of Eastern Europe. Here are the main advantages of buying a villa:

  • All non-EU citizens and their children under the age of 21 automatically receive a residence permit when buying a property in Greece worth over 250,000 euros.
  • Real estate in the country is several times cheaper than in Spain and Italy, which are the main competitors in the market.
  • The maintenance is acceptable in comparison with other countries, as utility tariffs are low;
  • The popularity of renting villas among tourists. Every year the country is visited by tens of millions of foreigners, and every year the figure is growing.

Excellent recreational opportunities

Greece has everything that a tourist’s soul could wish for: a warm Mediterranean climate, thanks to which you can swim in the sea from mid-May to the end of October, clean and well-groomed beaches, modern hotels and hotels of different price categories, noisy discos and quiet parks, picturesque surroundings with rocks and forests that hide ancient churches, countless architectural monuments, and other attractions, there are even ski resorts.

But, perhaps, the main thing is the friendliness and hospitality of the Greeks, who are always glad to see guests.