Passive income from real estate in Greece

Constant passive income is a great financial safety net. Money will go into your pocket whether you work or not. Investing in overseas property is one of the best ways to passively earn moneyespecially when it comes to Greece. 

 

 

Any investment pays off quickly 

Initiallyyou will have to spend a lotBut do not be alarmed - compared to the games on the stock exchangesthere is practically no risk here. The growth of each euro invested when buying commercial real estate in Greece goes in two directions at once: 

  • Firstly, rent is received every month. During peak seasons, its size can be temporarily increased.
  • Secondly, the price of real estate in this country has steadily gone up the past years. The economic crisis is over. This means that in 5 years you will be able to sell the living space at a much higher price. According to forecasts, the cost per square meter will grow by 40%.

The resulting income can be re-invested. Sooner or lateryou will get to the point where passive income will allow you not to work at all. 

 

What expenses reduce your income 

When calculating the amount of profit, it is worth considering the amount of taxes. Initially, you pay interest when you buy a property. Then you pay tax to the Greek IRS annually.

You can purchase an apartment worth up to 250 thousand euros and register it for yourself as an individual. This will significantly reduce the tax rate. If you want to invest more, then it would be better to register some type of company as the owner.

Also, the list of expenses should include the costs of housing and communal services, repairs. Control over all these operations can be left to representatives of specialized firms.

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