Greece, with its exquisite landscapes, beautiful beaches and rich cultural heritage, attracts many tourists and investors from all over the world. In recent years, the country has seen an impressive growth in deals during the construction phase. What has caused this growth and what opportunities does it offer to investors and property buyers?
A major reason for the rise in deals during the construction phase in Greece is the large profits in the short term. It is always more profitable to rent out properties in the primary market.
In addition, many of the properties under construction in Greece are offered in combination with property management and rental services. The investor is buying a complete product. This means that buyers can not only buy a property and also rent it out for a higher fee. Greece is a popular tourist destination, so the demand for rental properties is high. This opens up additional opportunities for investors to earn a steady rental income from their property.
Furthermore, investors and buyers can save a significant amount of money by buying property during the construction phase. The prices of properties under construction in Greece are on average 20% lower than the prices of already completed homes. This makes the purchase of real estate more affordable and attractive to a wide range of buyers.
An important factor contributing to the boom in construction deals in Greece is the support of the government. The Greek government is taking steps to attract foreign investors and stimulate the construction sector. This includes simplifying the procedures for obtaining building permits, reducing tax rates and providing financial incentives for real estate development. Such measures contribute to the inflow of investment in the Greek construction sector and the creation of new jobs.
The steady economic recovery of Greece after the financial crisis is also contributing to a boom in transactions during the construction phase. The improving economic situation and increased investment in the country is leading to increased investor and buyer confidence, who see Greece as an attractive market to purchase real estate.