property

The building permits for the Private Building Activity issued in Greece in March 2024 amounted to 3,728, corresponding to 864,988 m2 of surface and 3,248,483 m3 of volume

The primary objective is to raise the investment threshold for obtaining the Golden Visa, to put a brake on the frenzied pace of demand recorded in the expensive areas of the two major urban centers (Athens and Thessaloniki).

The head of Greece’s national organization of immovable private property owners warned millions of owners are at risk of facing depreciation of their assets in the coming years due to the inability to finance the mandatory energy upgrades of their buildings.

As emphasized by Tsigaras the Bulgarians are the big spenders with investors from Israel seeking to purchase lower priced properties with aim to renovate and sell at a higher price making a lucrative profit.

The average sought-after rental price for properties in Greece recorded an 8.8% uptick in the 4th quarter of 2023

The trend is reinforced by the positive reviews given by visitors to accommodations, especially in areas like Polygono, the First Cemetery of Athens vicinity, Hellenorossi, and Zappeion

The relevant announcement was made by the Independent Authority for Public Revenue (IAPR) and concerns property registered in regions where the “objective asset value” is in force.