Investors from Israel began to actively buy property in Greece. Among the active ones is a company that works in the field of short-term leasing. More recently, it has acquired 115 properties in Greece. About a fifth of them is located in Athens. The remaining 80% are on the islands and in the most popular resorts.
Golden Horizon Transactions
According to sources, the purchase cost buyers from Israel €10 million. The deal was concluded two months ago. The property was purchased directly from the bank to which it belonged. It is possible that this was property confiscated from loan debtors, which the financial institution needed to quickly realize to cover losses. For this reason, the sale was wholesale, and the cost of 115 real estates is affordable.
The buyer was the Golden Horizon Investment Fund, which aims to expand its presence in Greece. Recently, for example, he made another deal worth €12 million. The investor-owned the premises in Paleo Faliro with an area of 4,500 m2, owned by Piraeus Bank.
Zoia and other investors
Earlier this year, another Israeli company representing a group of investors acquired a building in the center of the Greek capital from Ethniki Insurance for €5 million. Another Israeli fund – Zoia – is actively buying property in Greece in the residential and office market. He now manages 19 buildings in Athens. Currently, the company's portfolio exceeds €2 billion – this is approximately 20,000 real estate properties around the world.
Dialogue between Greece and Israel
Israel's interest in Greek real estate continues to grow rapidly. Even a conference was held for businessmen, real estate agents, suppliers of building materials and legal experts from the two countries to discuss the purchase, sale, and reconstruction of real estate in Greek cities. The event was organized by the chambers of commerce and industry of the two countries.
Law firms in the two countries initiate cooperation to make it easier for sellers and buyers of real estate to enter into transactions. For example, recently there was a merger of the Greek company Machas & Partners and the Israeli company Firon&Co. Now they are working together. Their specialized agency assists in the purchase and sale of real estate. They support foreign investors who wish to acquire properties in the Greek residential and office real estate market.