BUYING A PROPERTY IN GREECE. THE SUPPORT OF PROFESSIONALS AS THE KEY TO SUCCESS
Why is Greek real estate so attractive? Taking a certain fascination for Mediterranean climate, lifestyle and amazing landscape for granted, Europeans and non-Europeans are investing in Greece because the country is one of the most promising investment destinations nowadays.
As the international real estate broker Tranio points out, while most European real estate markets are overheated, in Greece properties are still relatively cheap. Moreover, in the last 5 years Greece’s inbound tourism profits increased by more than one third and rental rates rose as well. Capitals from the US, Middle East, China bankrolled commercial and residential development projects. Finally, the new government led by New Democracy has approved significant tax reductions and abolished capital outflow restrictions which will certainly propel foreign investments. Thanks to the suspension of the 24 % VAT on new buildings for the next three years, for instance, foreign buyers will not limit their attention to old building and will be encouraged to seek out new constructions that will be VAT-free.
Although the advantages of investing in Greece are manifest and relevant, the process of buying or renovating a property may entail difficulties which need to be attentively pondered. A survey by Ernst and Young Greece (source Ekathimerini.com) reveals that investors are mainly discouraged by Greek administrative deficiencies and intricate taxation frameworks, the perception of corruption, a difficult access to financing, bureaucratic inefficiencies and expensive regulations.
However, these barriers should not discourage investors; if they are considered since the very first moment and managed properly, they can be taken down. The support of a qualified team of experts like those of SUNIONIAN is central as it radically simplifies the complicated process of buying and possibly exploit a property. Being represented and advised by professionals operating in the Greek market and familiar with Greek administration and offices means making sure that all the behind-the-scenes details have been considered and that the process has been managed professionally, legally and without unnecessary costs.
Moving to Greece, especially to an island, and open a business means also to be prepared to compromise with local cultural aspects and sometimes with a lack of specialization. Just an example: if one the one hand we all love the sense of calm and delayed time we breath in little Greek villages and islands (and this improved quality of life is probably one of the main reasons why we are moving) on the other hand the absence of a well-defined working schedule may delay the achievement of our goals and could result frustrating on the long term. Precision and attention to detail may also fail if we turn to craftsmen with a limited experience. Once again, the support of a professional agency operating directly in the territory could be crucial to overcome the obstacle. SUNIONIAN ensures the best possible combination of craftsmanship and value for your money by using professional contractors and competitive tendering methods. Moreover, site visits by civil, mechanical and electrical engineers ensure a constant quality control. Last but not least, customers may have a full image of a 3D depiction through iPhone or android, knowing from the beginning the final appearance of their investment and following their project even if they are not on the place.
Benefits far outweigh any drawbacks. Don’t leave anything to chance and make sure that your investment or lifelong project has a quick and successful outcome by turning to professionals. For a complete overview of the services provided by SUNIONIAN see https://www.sunionian.com/en/services .
If you are planning to move to Greece have a look at this article: https://www.sunionian.com/en/newsfeed/article-page/living-an-achievable-dream
Read more on Greece property market on https://tranio.com