Cyprus and Greece Real Estate: Your choice

In a world of global financial flows, square metres abroad remain a reliable support for the formation and strengthening of personal capital. The benefits of investing in overseas commercial property reveal not only the benefits of current yields, but also strategic sustainability in the long term.

Stable passive income against the backdrop of global risks: the main plus of investing in commercial property abroad

The dynamics of the global economy are constantly changing, but passive income from real estate continues to provide stable cash flows. The advantages of investing in foreign commercial property are manifested in the opportunity to earn profits in hard currency even during economic downturns in the home jurisdiction.

Office buildings, shopping centres, hotels and warehouse complexes in developed countries generate yields of 5-8% per annum. With the right property, rental rates are indexed to inflation, which maintains the purchasing power of capital.

Investments in regions with a tourist flow, where the occupancy rate of commercial property remains high all year round, look particularly favourable. In this aspect, Greece stands out favourably – a country showing an annual increase in the number of tourists of over 10% from 2019.

Asset diversification: protection against localised risks

Investments in foreign commercial property open up new horizons for portfolio diversification. The advantages of investments lie in reduced dependence on the local economy, currency fluctuations and political changes. Owning assets in several countries provides capital stability in case of crises in one of the markets. Choosing between office space in Berlin, hotels in Cyprus and holiday apartments in Greece allows you to intelligently spread risks between sectors and regions. The Greek market has a special place in this list: it offers attractive start-up conditions and growth prospects due to the Golden Visa programme, which facilitates obtaining a residence permit through the purchase of real estate from 250,000 euros.

Growth in value: long-term prospects for capital growth

The benefits of investing in overseas commercial property become particularly evident when analysing the growth in asset values. The economies of many countries in Europe and Asia demonstrate a stable demand for quality facilities against the backdrop of limited land supply. The global market after 2020 shows commercial property prices growing by an average of 6-8% per year due to reforms in the construction industry and the recovery of the tourism industry. Acquisition of a property at the stage of economic recovery allows to fix the asset at a minimum price with the prospect of further capitalisation.

The tax advantages of investing in overseas commercial property

The right jurisdiction allows for tax advantages. Many countries provide incentives for foreign investors: reduced tax rates on rental income, exemption from capital gains tax on long-term ownership, depreciation write-offs.

In Greece, foreign owners of commercial property enjoy simplified taxation rules and can obtain exemption from inheritance commission if certain conditions are met. This policy encourages long-term investment and favours the preservation of capital within the family.

Benefits of lending: access to international financial products

Many banks in countries with developed markets offer mortgage programmes for foreign investors to purchase commercial real estate: the benefits of investing are enhanced by the possibility of attracting financing at low interest rates and thus increasing the return on investment. Greece is actively developing mortgage lending programmes for foreigners, offering rates from 3% p.a. with a down payment of 30% or more. This gives the investor an opportunity to spread risks between equity and borrowed funds, preserving liquidity for other projects.

Greece: detailed information about the country with maximum investment advantages

The benefits of investing in overseas commercial property are clearly embodied in the Greek market. After a decade of financial crisis, the country has steadily moved into the growth phase, proving its investment attractiveness with real indicators. The successful implementation of the “Golden Visa” programme, offering residence permits for property purchases from 250,000 euros, has attracted capital flows not only from Europe, but also from China, the Middle East and North Africa.

The Greek commercial property market shows a unique combination of factors: affordable starting prices, high growth potential and a growing tourist flow. Athens, Thessaloniki and the islands of Mykonos, Rhodes, Santorini and Crete are experiencing stable rental yields in the range of 5-7% per annum. At the same time, the cost of commercial property remains significantly lower than in Spain, Italy or Portugal, providing an easier entry into the market for average investors.

The price growth dynamics are particularly attractive: from 2022 onwards, the average value of commercial properties in central Athens is increasing by 7-9% annually due to economic recovery, employment growth and the development of the service sector. The tourism sector, which accounts for about 20% of the country’s GDP, generates stable demand for hotel, café, shop and office rentals, especially in areas close to cultural and historical attractions.

Greece is actively reforming legislation in favour of protecting foreign investors. The registration of ownership is fast and transparent, and the property tax system allows the use of depreciation to optimise tax payments. Legislative changes in 2023 strengthened legal guarantees for commercial leases, minimising the risks of tenant default.

Infrastructure development plays an important role. The European Investment Bank is financing large-scale projects to modernise roads, ports, airports and urban infrastructure. In Athens alone, the second phase of the metro extension is scheduled for completion in 2024, which will increase property values in new transport corridors by 10-12%.

In addition to major cities, investment opportunities are opening up in resort areas. Mykonos and Santorini attract the premium tourism segment, where rental rates for commercial properties reach 8-10% per annum. Smaller islands, such as Paros and Naxos, offer the chance to acquire hotels and restaurants at the stage of growth of their tourist popularity, fixing the asset at a favourable price.

Additional advantages include a stable political environment, Greece’s membership of the EU and the Eurozone, which ensures transparency of the rules of the game and the protection of property rights at the international level. Local banks, having restored liquidity after restructuring, are again actively providing mortgage loans for the purchase of commercial property, reducing the financial burden on investors.

Conclusion

The benefits of investing in overseas commercial property go far beyond simple profitability. Such investments form a stable, profitable and reliable basis for long-term capital preservation and growth. With the right strategy, foreign assets provide stability for the financial future, risk diversification and access to global markets. Greece, with its combination of rising prices, affordable entry price tags, tax advantages and residence permit programme, deserves special attention in the portfolio of the modern investor.

Sunny Cyprus attracts Russians with its mild climate, high level of security and the opportunity to enjoy the Mediterranean lifestyle. Like everywhere else, staying on the island has its own peculiarities, advantages and disadvantages. What awaits those who are planning to move? Let’s answer in the article.

The advantages of living in Cyprus

The island has a number of unique characteristics that make it attractive to Russian emigrants:

1. Mediterranean climate – over 300 days of sunshine a year. Winters are mild, with temperatures rarely dropping below +10°C. Summer lasts almost half the year, with comfortable temperatures ranging from +28°C to +35°C. This weather is conducive to active holidays, outdoor activities and better health.
2. Cyprus is considered one of the safest places in Europe. The crime rate is minimal and the locals are known for their friendliness and openness. Russian emigrants note the calm atmosphere in Cyprus, which is ideal for life with children.
3. The island offers one of the most attractive tax systems in Europe. For entrepreneurs and business owners, the corporate tax rate is only 12.5%. In addition, there is an agreement between Russia and Cyprus on the prevention of double taxation, which simplifies financial matters.
4. Russian-speaking communities are actively developing here. Russian schools, business centres, shops and restaurants are open in Limassol and Paphos, making adaptation easier and helping to maintain a connection with the native culture.

Disadvantages of living in Cyprus

Despite the many pluses, living on the island has its challenges that you should consider before moving:

1. The rents, especially in the larger cities such as Limassol and Nicosia, are quite high. The average cost of a studio flat in the centre is €1,000-1,500 per month, while prices for buying property start from €200,000.
2. The economy is centred on tourism, financial services and construction. For professionals from other fields, jobs are more difficult to find, especially without knowledge of English or Greek.
3. Most goods are imported, which affects prices. Food, clothes and electronics are more expensive than in Russia or Eastern European countries.
4. In July and August, temperatures on the island can exceed +40°C, making it difficult for people used to cooler climates.

Property market: features and prices

Life in Cyprus begins with choosing the right accommodation. Property on the island offers many options, from affordable flats to luxury villas with sea views. For Russian emigrants, it is important to understand how prices are formed and which regions are best suited for buying or renting:

1. Limassol. One of the most expensive and prestigious cities in the state. The average cost of renting a flat is 1000-1500 euros per month. Buying a property will cost 2000-3000 euros per square metre. Limassol is characterised by developed infrastructure, a large number of Russian-speaking residents and high demand in the rental market.
2. Paphos. A more affordable city compared to Limassol. Renting a flat here starts from 700 euros per month. Buying a property – 1500-2000 euros per square metre. Paphos is famous for its historical sights and peaceful atmosphere, which makes it popular with families.
3. Nicosia. The capital offers accommodation at similar prices to Paphos, but with a higher demand for rentals. This is due to the availability of a large number of jobs and educational institutions.

Living in Cyprus can be not only comfortable but also profitable. Many people buy accommodation on the island to invest their money. Renting it out brings a steady income, especially in the tourist areas. For example, in Limassol, the yield from renting out property can reach 5-7% per annum.

Working in Cyprus: prospects for emigrants

Living in Cyprus offers a wealth of employment opportunities, but the island’s economy has its own peculiarities that are important to consider. The main sectors offering jobs are tourism, construction and financial services. The tourism sector is one of the leading areas of the economy, where professionals in the hotel business, restaurant industry and excursion services are in demand. Knowledge of English significantly increases the chances of successful employment in this field.

The construction sector also remains key to the country’s economy. Engineers, architects and master finishers are in demand due to the constant development of infrastructure and construction of residential complexes. In turn, the IT and finance sectors are actively developing, attracting specialists from different countries. Programmers, analysts and cryptocurrency experts can expect high salaries – on average from 2500 to 4000 euros per month.

For a successful job search, it is recommended to make sure you have a work visa or work permit in advance. Local job sites such as Cyprus Jobs and EURES can help you find suitable offers, while internships or temporary employment are a great start to adapt to the labour market.

Health and education in Cyprus

The high standard of healthcare and the variety of educational programmes make life in Cyprus comfortable for families and those who want to become professionals in sought-after fields.

The medical system in Cyprus offers a wide range of public and private clinics. Public medicine operates through the GeSY system, which provides access to free or low-cost services. Residents with a medical card can expect quality care including diagnosis, therapy and basic treatment. Many emigrants prefer private clinics due to their personalised approach, absence of queues and high speed of service provision. Such insurance costs from 1200 euros per year and covers a significant part of the costs.

The educational system of the island includes public schools, where education is conducted in Greek, and international institutions with programmes in English. The latter are especially popular among Russian families, as they help children to adapt easily and receive an education that meets international standards. The cost of education in international schools ranges from 8000 to 15000 euros per year. Higher education in the country is also available for emigrants. Limassol and Nicosia Universities offer courses in English, and tuition fees start at €3,000 per year.

Legalisation process

In order to start a fulfilling life in Cyprus, it is important to get the paperwork right. The main steps are:

1. A tourist visa is issued for the first visit to the island.
2. A temporary residence permit (TPR) is obtained on the basis of a property purchase, employment or investment.
3. A permanent residence permit is issued after several years of residence.

The following documents are required to apply for a residence permit:

1. Passport.
2. Proof of financial solvency.
3. Health insurance.
4. A criminal record certificate.

Conclusion

Living in Cyprus opens up prospects for comfortable living, professional growth and profitable investments. Having assessed all the pros and cons, everyone will be able to find a home on this sunny island. It is only important to prepare in advance for all aspects of the move to make the process as convenient and successful as possible.

Obtaining a Cyprus residence permit for property investment has become one of the most popular ways to ensure security, quality of life and access to Europe for yourself and your family. Among the key advantages of the programme are the minimum investment amount, fast processing of applications and the unique opportunities offered by the Cypriot housing market. This is an opportunity to move to a state with an ideal climate, excellent infrastructure and business prospects.

Ease of process and unique conditions for investors

The system of obtaining Cyprus residence permit for investment is characterised by transparency and accessibility. The minimum investment amount is 300 thousand euros, which makes the programme one of the most attractive in Europe. The government of Cyprus actively supports foreign investors by offering simplified procedures for checking applications. The standard processing time is only two months. Unlike most other countries, Cyprus allows family members, including parents and children under 25 years of age, to be included in the application. This makes the programme particularly attractive for those planning to move with their loved ones.

Thanks to its stable economy and high standard of living, Cyprus has become a point of attraction for investors from all over the world. The ease of paperwork and affordability of housing make this market ideal for long-term investments. The programme covers the purchase of both residential and commercial property, which significantly expands the choice of properties.

Advantages of Cypriot property for investors

Investors are actively choosing sea view villas, cosy apartments in resort areas and promising commercial property in business centres. The Mediterranean climate, developed infrastructure and high quality of construction make Cypriot property one of the most reliable assets. Prices for properties in popular regions such as Limassol, Nicosia and Paphos are steadily increasing by 5-8% annually.

Advantages:

1. High level of security: low crime rates make Cyprus a safe place to live and invest.
2. World-class infrastructure: modern roads, airports, schools and medical facilities.
3. Rising property prices: stable market growth ensures long-term return on investment.
4. Tax benefits: low taxes on rental income and minimal property transfer fees.

Limassol attracts investors with its status as a business centre and luxury housing, while Paphos offers a relaxed lifestyle and access to the best beaches in Cyprus. Buying a home in Cyprus for permanent residence is an investment in stability and confidence in the future.

How to get a residence permit in Cyprus for property investment – step-by-step plan

The process of obtaining a Cyprus residence permit for investment requires strict adherence to a number of procedures. It is important to understand all the steps and comply with local legislation to avoid delays and problems. Thanks to a simplified system and the support of local lawyers, the process is clear and quick, even for those who are new to investing abroad.

The process of buying a property for permanent residence:

1. Property selection: determining the type of property suitable for the programme. It can be a residential or commercial property worth 300 thousand euros or more. Villas on the coast, apartments in the city centre or office premises – the choice depends on the investor’s goals.
2. Legal check of the property: before the purchase, an inspection is carried out to ensure that there are no encumbrances and that the transaction is legal. This includes analysing title deeds and researching the history of the property.
3. Conclusion of the sales contract: signing the contract and making the prepayment. It is usually required to pay 30-50% of the value of the property at this stage.
4. Payment of taxes and duties: stamp duty is 0.15-0.2 per cent and transfer tax is between 3 and 8 per cent. These payments must be made before the transaction is finalised.
5. Applying for the programme: collecting the necessary documents, including the purchase and sale agreement, proof of payment and income certificates. The application is submitted to the Migration Department of Cyprus.
6. Obtaining a residence permit: the standard processing time is up to two months. After approval, a residence permit certificate is issued.

Conditions for obtaining a residence permit in Cyprus for property investment

The key condition of the programme is a real estate investment of 300 thousand euros or more. But the standards also impose other requirements that must be taken into account to successfully obtain permanent resident status.

Basic requirements for investors:

1. The investment amount is 300 thousand euros.
2. Source of funds: investors are required to prove the legality of their income. Funds for the purchase of real estate must come from abroad.
3. Annual income: a minimum annual income of 30 thousand euros per main applicant must be confirmed. The amount is increased by 5 thousand euros for each additional family member.
4. Investment retention: the property must remain in the investor’s possession for at least three years. Selling the property before this period may result in cancellation of the residence permit status.
5. No criminal record: the applicant and his/her family members must provide certificates of no criminal record.

Pros and cons of investing in property for permanent residence in Cyprus

One of the key advantages for investors is the tax system of Cyprus. Taxes in Cyprus are significantly lower than in other European countries. For example, the tax on rental income is only 12.5% and on capital gains on the sale of property is 20%. Stamp duty varies from 0.15% to 0.2% of the value of the property. Transfer tax depends on the amount of the transaction and can range from 3% to 8%.

Among the risks are possible changes in legislation and economic volatility. Although the property market in Cyprus is stable, political changes may affect the terms of the programme. Also, the seasonality of the tourist flow can have an impact on rental yields.

To minimise the risks, it is advisable to choose investment properties carefully. Properties in the central areas of Limassol or Paphos are more resistant to market fluctuations and have a high potential for value growth. Acquisition of commercial property in business districts can bring stable income, even if the demand for rental housing temporarily decreases.

Conclusion

The Cyprus Permanent Residence Programme for property investment is a unique opportunity for those seeking to secure a stable future for themselves and their family, a quality life and access to the European market. Thanks to transparent conditions, fast processing of applications and high quality of properties, Cyprus has become one of the most attractive destinations for investors from Russia and other countries.

Property in Cyprus offers great opportunities for those looking for a secure investment or planning a move to Europe. Average house prices range from €100,000 for apartments in Larnaca to €1,000,000 for premium villas in Paphos. Why many people consider the island an ideal place for long-term investments – we will tell you in the article.

Pros of investing in property in Cyprus

The island epitomises a unique combination of a stable economy and high standards of living. EU membership provides access to European markets, while its favourable geographical position between Europe, Asia and Africa makes Cyprus a key transport hub. The city of Paphos stands out for its high demand for tourist property, while Limassol attracts business people due to its developed infrastructure and status as a business centre.

Popular types of property in Cyprus

The Cyprus property market includes a variety of properties: villas, flats, houses and flats. Modern apartments in Larnaca cost from €150,000, while spacious villas with sea views in Limassol are available from €500,000.

Advantages:

1. Affordable loans. Most Cypriot banks offer mortgage programmes with low rates starting from 2.5% per annum.
2. High rental yields. In the tourist areas of Paphos and Limassol rental income reaches 5-7% per annum.
3. Energy Efficiency. New buildings on the island meet high standards of energy efficiency, which reduces utility costs.
4. Infrastructure. Many complexes include swimming pools, fitness rooms, parking spaces and recreational areas, which increases the comfort of living.
5. Investment Flexibility. Investors can choose between ready-made properties and properties under construction, saving up to 20% of the market price.

Promising areas of Cyprus for property investment

Investors are increasingly turning their attention to neighbourhoods with high price growth potential:

1. Larnaca. Ideal for budget investments. Construction is actively underway here, which attracts buyers with affordable prices. New projects in Larnaca offer modern apartments with prices starting from 150,000 euros, and the international airport attracts tourists.
2. Nicosia. The capital is the centre of business activity. The area of Cyprus attracts foreign companies and investors, which provides a steady demand for commercial property. The value of housing here has increased by 25% over the last five years, making it a favourable choice for long-term investments.
3. Limassol. A major port city and business centre. Infrastructure includes modern offices, hotels and premium residential complexes. Villas in Limassol are priced from €500,000 and luxury apartments from €300,000. High rental yields make Limassol popular with investors.
4. Paphos. One of the most picturesque and tourist developed areas. The high interest of tourists allows property owners to earn a stable rental income. Sea view villas start from 400,000 euros and apartments from 200,000 euros. Projects orientated towards eco-tourism are being actively developed here.

Legal aspects of buying a property in Cyprus

The purchase process begins with the selection of the property and legal due diligence. The signing of the sale and purchase agreement takes place in the presence of a lawyer who checks the property documents. For payment, an account will be opened in a bank where the deposit will be kept. The transaction is finalised with the registration of the ownership right in the Land Registry. Legal control at every stage ensures safety and transparency.

Rules for Russian citizens

Russians can purchase property in Cyprus without restrictions. A valid passport, tax number and bank statement are required for registration. Buying property worth 300,000 euros or more allows you to obtain a visa to Cyprus. This entitles you to a long-term stay.

Nuances of purchase for Russians:

1. Document Requirements. In addition to a passport, proof of source of income or a letter from an employer may be required.
2. Visa process. It allows the property owner to stay in Cyprus for 180 days a year, and with investments of 2 million euros or more, it is possible to apply for citizenship.
3. Peculiarities of banking operations. To transfer funds to Cyprus you will need to open an international account, this takes 1-2 weeks.
4. Legal support. The lawyer’s services include checking all documents and ensuring the transparency of the transaction.

Taxes and additional expenses

The island’s tax system is characterised by loyalty to foreign buyers. For the first purchase of housing a reduced VAT rate of 5% instead of the standard 19% is applied. Stamp duty is 0.15%-0.2% of the value of the property. Buyers are also exempt from capital gains tax on the sale of a property if it was purchased before a certain date, making the system even more favourable. These incentives make property taxes in Cyprus particularly attractive to investors.

Maintenance costs

There are moderate costs associated with owning property in Cyprus:

1. Utilities. Water and electricity are charged separately, on average 30-50 euros per month for apartments and 80-120 euros for villas.
2. Grounds Maintenance. For villas, garden maintenance, pool cleaning and minor repairs are included, costing around €100 per month.
3. Insurance. The recommended cost of the policy is between €200 and €400 per year, which covers the risks of property damage.
4. Owners’ Association. There are monthly fees for apartment complexes, which can range from 50 to 150 euros.

Reasonable costs and a clear payment structure make property in Cyprus an attractive choice for investors and those planning to relocate to the island.

Conclusion

Investing in property in Cyprus offers a wealth of opportunities, from stable income to easy access to the European market. Rising house prices, a loyal tax policy and a stable economy create ideal conditions for long-term investments. The average increase in the value of properties reaches 10-15% annually, which makes buying square metres in Cyprus not only a safe but also a profitable strategy.

A home by the sea is not just a purchase, it is an investment in quality of life. Greece with its warm climate, clean beaches and stunning views attracts those who dream of tranquillity, comfort and beauty. Where to buy a flat in Greece by the sea and how to organise the whole process? In this article we will go through each step, from choosing a region to organising all the necessary documents.

Attica – proximity to the capital and the sea

Attica is a great place for those who want to live on the coast but not lose access to metropolitan life. There are prestigious coastal neighbourhoods such as Glyfada, Vouliagmeni and Varkitsa, where clean beaches are combined with first-class infrastructure. The average cost per square metre is around 3500-5000 euros.

Attica has an international airport “Eleftherios Venizelos”, which makes frequent travelling comfortable and fast. Buy a flat in Greece by the sea here – not just prestigious, but also convenient in terms of infrastructure. There are top restaurants, shopping centres and elite schools nearby. Living in Attica is comfortable both for families with children, thanks to the many private kindergartens and schools, and for business people who want to be in the centre of events.

Crete is an island of opportunity and vibrant culture

Crete is a place with a unique flavour, where life is relaxed and vibrant. It is the largest island in Greece and offers accommodation to suit all tastes, from small flats on the coast to spacious villas. The average price per square metre ranges from 1500 to 3000 euros depending on location. Buying a house by the sea in Crete is also an opportunity for a stable income.

Tourism is actively developing here, the island attracts many tourists every year, and renting out accommodation can be a great source of profit. Developed infrastructure, abundance of historical sights – Knossos Palace, Arkadi Monastery – and picturesque landscapes make this island not only attractive for living, but also favourable for investment.

Santorini – luxury accommodation with unique views

Santorini is an island that captivates at first sight with its views. Snow-white houses with blue domes against the azure sea create a unique image. Here you can buy a flat in Greece by the sea and get access to the most beautiful sunsets in the world, which can be seen from the caldera.

Property in Santorini is more expensive than the national average – from 4000 to 7000 euros per square metre, but this investment brings not only status, but also joy every day. The island offers many restaurants, designer boutiques and cosy cafes. Santorini is the choice of those who appreciate luxury, are not afraid to spend on real emotions and want to be in one of the most photogenic places on the planet.

Features:

1. Spectacular views of the caldera and the Aegean Sea.
2. An exclusive property that has remained in demand for many years.
3. The opportunity to enjoy the best restaurants with traditional Greek cuisine and the best wines of the region.

The procedure: How to buy a flat in Greece by the sea

Buying a home involves several key steps, each of which is important for the successful completion of the transaction. It starts with choosing a property and a reliable agency. It is important to find a trustworthy agency to avoid hassles and hidden fees. After choosing the object, a preliminary agreement is signed, which fixes the price and terms of the deal. The agreement protects the interests of the parties and guarantees that the property will be secured while the legal due diligence takes place.

It is necessary to collect documents to buy a property in Greece, among them:

1. Passport and Tax Identification Number (TIN).
2. Bank statements proving the financial solvency of the buyer.
3. Certificate of absence of debts and legality of income.

It is impossible to buy a flat in Greece by the sea without these documents. Each document must be prepared in advance to avoid delays in the process of registration of the transaction. All originals must be translated into Greek and notarised. After the preparation of the package follows the registration of ownership rights in the Land Registry, where all changes and legal rights to the property are recorded. This is the final stage after which the person becomes the full owner.

Prices of flats in Greece by the sea: what to expect?

The cost varies depending on the region chosen. For example, in the prestigious areas of Attica the price per square metre can reach 4000-5000 euros, while in Crete or in remote parts of the country – from 1500 to 3000 euros per square metre. The possibility to take out a mortgage on property in Greece makes the purchase more affordable. Greek banks offer mortgages to foreigners and the rates vary from 3 to 5%, depending on the terms of the bank and the financial history of the buyer:

1. Down payment – typically 20-30% of the home’s value.
2. Mortgage rate – can vary depending on the term and bank, starting at 3%.
3. The repayment period is up to 30 years.

Taxes and additional costs when buying a property in Greece

You need to consider not only the cost of the property, but also the additional costs:

1. Property purchase tax – is 3-5% of the value of the property depending on its category.
2. Notary services – the cost of which is about 1-1.5% of the total amount of the transaction.
3. Legal services – lawyer’s fee for checking the legal cleanliness of the object (about 1%).
4. Registration fees – at the Land Registry, which are approximately 0.5% of the value.

All of these costs can add up to 10% of the total cost of the property, so it’s important to consider them when planning your budget.

Why it is favourable to buy a flat by the sea in Greece: How to get a residence permit

Residence permits in Greece for the purchase of real estate are available to those who purchase a property with a value of 250,000 euros or more. The residence permit entitles the holder to travel freely within the Schengen area, to use the services of the local health care system and educational institutions.

Advantages of a residence permit:

1. Freedom of movement – the possibility of visa-free entry to Schengen countries.
2. Health and education – access to public and private facilities.
3. Five-year term – renewable if the property remains in the owner’s possession.

Conclusion

Prestigious Attica, vibrant Crete or romantic Santorini, each location offers unique opportunities for those looking to invest in their future. Buying a flat in Greece by the sea is not just about buying a property, it is about making the dream of living by the azure coast a reality.

Greece has always been associated with natural beauty, rich culture and unique history. But now, as the world is becoming increasingly globalised, property in Greece is becoming not just a status element, but one of the most promising investments. The economic crisis of 2008 made property prices affordable and 2024 has become a turning point for those looking to invest profitably. Against the backdrop of a growing economy and improving infrastructure, property in Greece in 2024 promises to be a real financial treasure trove.

The article will give a lot of useful information for those who want to buy property in Greece.

The best cities to buy property in Greece

Buying a home in Greece always raises a lot of questions: which cities are the most attractive, what you should pay attention to, and what are the peculiarities of the property market in each region. Each location offers its own unique lifestyle, investment opportunities and level of affordability.

Athens – the heart of Greece and an investor’s dream

Athens is not just the capital city, but also the cultural and economic centre of the whole of Greece. Its historical charm, modern renovations and growing economic attractiveness make Athens one of the most promising locations for investment. In recent years, residential prices in this location have shown strong growth. Between 2018 and 2024, the price per square metre in the central districts increased by 25-30%, indicating increased interest from both foreign and local buyers.

The best places to buy property in Greece are Plaka, Kolonaki and Pangrati. Here, ancient buildings neighbour with modern apartments, and investments in renovation can bring significant profits. Infrastructure also keeps pace: the metro, new parks and modern public spaces attract young people and professionals, which has a positive impact on rental income.

Property prices in Athens, Greece vary depending on the area: in the centre the cost can reach €3500 per square metre, while in the suburbs it can be around €1800.

Thessaloniki – urban charm and great deals

Thessaloniki, the second largest city in the country, offers a unique combination of an active urban lifestyle and a cosy atmosphere. It has become attractive for young professionals and families due to its developed infrastructure and many educational institutions. Start-ups and small businesses are actively developing here, making the rental market active and stable.

The average cost of housing is about 2000 euros per square metre, which is noticeably lower than in Athens. At the same time, rental yields remain high, especially in areas close to universities and business centres. Buying property in Thessaloniki in Greece is a wise choice, which can bring an income of 5% to 8% per annum. The economic benefits are combined with a high quality of life: wide promenades, restaurants with traditional cuisine and an active nightlife make this location truly vibrant.

Corfu – island villas and a sea of opportunities

Corfu is not just a holiday island, it is one of the best places to buy property in the Greek islands. Surrounded by olive groves and stunning seascapes, the villas attract those seeking tranquillity and privacy. In recent years, the island has also become an investment destination due to the growing tourist traffic and the popularity of short term rentals.

Prices for villas in Corfu Greece range from €4,000 to €6,000 per square metre, depending on location and proximity to the sea. Thanks to the booming tourist sector and the popularity of renting through platforms like Airbnb, investments here pay off faster than in other parts of the country.

What kind of property to buy in Greece: villas, flats, flats

The Greek Islands offer a wide range of accommodation, from luxury villas with swimming pools and gardens to cosy apartments. Island life appeals to those who are tired of the hustle and bustle of the city and want to enjoy nature. For those looking for something more budget-friendly, flats are also a great choice, especially in the tourist areas.

Villas offer ideal conditions for living and relaxing: large areas, private territories, proximity to the sea. However, their cost can reach 5000-7000 euros per square metre. Houses in Greece are more affordable, with prices between 2500-4000. Apartments, on the other hand, are often located in apartment complexes with common recreational areas, making them ideal for renting out.

Residence permit in Greece through the purchase of property: possibilities and peculiarities of obtaining a residence permit

A real opportunity not only to enjoy life in this wonderful country, but also to travel freely in the Schengen area. In order to obtain a residence permit, it is necessary to purchase a residential property worth at least 250,000 euros. The process of registration includes several stages:

1. Buying a property – you need to find a property in Greece that meets the requirements for a residence permit.
2. Documents – passport, sales contract, insurance policy and medical documents.
3. Filing – once purchased and all documents have been completed, filing is done through the Greek Migration Office.
4. Obtaining a residence permit – after verification of documents and approval procedure.

The process takes from three to six months, depending on the complexity of the situation. The acquisition entitles you not only to a residence permit, but also to reside in the country with the possibility of renewing the status every five years. This is an excellent opportunity for those seeking stability and access to European markets.

Conclusion

Buying a property in Greece in 2024 is a good idea. Athens and Thessaloniki are suitable for those who want to invest in an urban lifestyle with active rentals, while Corfu and other islands are suitable for those looking for privacy and high income from tourism.