This year will likely record an all-time high for Foreign Investment in the Greek real estate market – the country will see a record increase in 2022 with real estate values and immigration demand to this European country.
Investment activity in the real estate market has now begun to recover. Central Bank of Greece data shows that in the second quarter of 2022, foreign capital inflows to buy real estate in Greece reached 414.4 million EUR, up 67% year-on-year.
At the same time, this is the best quarterly performance since Q4 2019, when foreign funds rose to 410.3 million EUR, as well as the 3rd highest ever. The all-time high in a quarter still belongs to the last 3 months of 2018, at 464 million EUR.
Overall, in the first half of this year, registered foreign capital inflows increased 61% year-on-year to 788 million EUR, compared with 488 million EUR that flowed into the country in the first half of 2021. Based on today’s pace and view Considering that with the past tradition of stronger real estate investment activity in the second half of each year, it is now almost certain that 2022 will not only mark the full recovery of real estate investment. foreign assets since the outbreak of the pandemic and beyond, but also a new all-year record high.
By far the largest amount flowing into the country in a calendar year was 1.45 billion EUR in 2019. This year, it looks like the number will be easily surpassed and is even likely to reach 1.6-1.7 billion EUR.
Another factor that seems to be mobilizing investors from abroad is the recent rise in interest rates. This has boosted the decision-making process, as it is certain that borrowing costs will continue to rise in the coming quarters.
According to market sources, such as brokers and notaries, a large amount of buying and selling takes place during the summer months, with foreign investors as the protagonists, which have returned strongly after two years. the previous year of hiatus, amid the pandemic.
Foreign investors’ top choices are apartments in central Athens, quality construction in the southern suburbs of Attica and luxury country houses in popular destinations. (Details of a few potential real estates introduced by VNIS Investment)
VNIS INVESTMENT
Source: Foreigners snap up Greek realty | eKathimerini.com
