The number of transactions for the purchase of real estate with citizens of China throughout Greece continues to grow. According to Juwai.com CEO Kerry Lowe, the “Greek boom”, which has been fixed in the last couple of years, does not slow down at all.
Chinese buyers today are very active participants in the Greek real estate market.
Last year, China's investment in overseas property amounted to € 104,976,900,000 ($ 119.7 billion). According to the expectations of the director of Juwai.com, the volume of investments this year will grow by 3-8% compared with the past. And by the end of 2018, it will be at least € 108,134,100,000 ($ 123.3 billion).
Goals Chinese Investors
Many Chinese citizens are acquiring Greek real estate in order to obtain a “golden visa”, and, as a result, a residence permit in the EU zone. The only condition for obtaining a “golden visa” is the number of investments in Greek real estate in the amount of € 250,000 ($ 284,000).
Compared to last year, Chinese interest in Greek real estate has quadrupled. It is associated with affordable prices for houses, apartments, cottages, villas, as well as commercial objects in comparison with real estate prices in other countries of the European Union.
Another reason for the large flow of buyers from the People’s Republic of China to Greece is associated with the weakening of the yuan. The inhabitants of the Middle Kingdom, investing in Greek real estate, are trying to withdraw capital from the country.
How do the Greeks work with the Chinese?
The increased demand from Chinese citizens has led many Greek real estate agents to pay special attention to them. Many realtors meet customers from China directly at the airport and immediately deliver them to objects previously selected for inspection.