Why Greece Is a Booming Market for Buying a Summer Home

Greece has 6.000 islands and islets, the most of any Mediterranean country and that is the reason why it offers a variety of postcard-worthy retreats, set against the waters of the Aegean and Ionian seas.  

Therefore, foreign clients have seen Greece as a safe heaven, an ideal location that offers seclusion in expansive spaces of unparalleled beauty.

Part of the attraction -in addition to the country’s natural splendor and blissful climate- are favorable tax laws as well as its popular “golden visa” program.

Enacted in 2013 to make property ownership more enticing to non-E.U. citizens, it allows the purchaser of any real estate transaction above €250,000, or about $263,000, to qualify for Greek residency.

It also doesn’t hurt that the nation is seen as relatively undervalued when compared to its Mediterranean neighbors.

Low Taxes

Greece indeed has a lot to offer the foreigners who are investing in the country. For overseas residents, the country offers terrific tax deals.

If your native country is under a tax treaty with Greece, you don’t have to pay double taxes. Moreover, income from Greece’s properties will be taxable in Greece only, and any income from abroad will be tax-free.

Investing in Greek tourism

Investing in the Greek residential market, equals to investing in the Greek touristic product. The significant investments which were undertaken in the country’s touristic infrastructure, combined with Greece’s improved place in the international scene, led to a boom in annual revenues from incoming tourism, which amounted to 17.7 billion euros in 2019, versus 9.6 billion euros in 2010.

Easy To Travel to

With its great connections with the rest of the world, you can travel to Greece without any inconvenience. Therefore, no one will ever find it troubling to reach there.

In fact, once you have landed in the country, you will find out that the local transportation system too is very much affordable and connected to every town.