The Hellenic Republic (Greece) has always been one of the most attractive places to live. Since the most ancient times, people settled there for its wonderful climate, excellent sea and agricultural wonders.

Owning a Greek real estate property can give one the feeling of having bought a piece of history, give one the opportunity for constant and consistent capital gains, and provide a great lifestyle at affordable prices.

There really is no other place like it on earth. As the Greeks like to point out, the gods could have settled anywhere, but they chose Greece.

Different markets

The property market in Greece is divided into two basic categories, commercial and residential.

However, in both cases, there are the well-developed areas of Athens and Thessaloniki, and then the tourist areas of the Greek islands and coasts.

In all cases, the market has had a steady upward performance since the end of World War II.

The Greek property market is also as popular with non-Greeks as it is with Greeks themselves.

EU Florida

Similar to the Florida phenomenon in the United States, Greece is becoming an increasingly popular place for aging Europeans and others to retire.

Healthcare is as good as anywhere else in the EU, the local population is often multilingual and the climate offers a summer for 8 to 9 months a year.

For sheer beauty and cleanliness, the Greek seas are unbeatable in Europe. Property prices are rising at a moderate but steady pace.

The commercial market

By far the most developed real estate opportunities in Greece are the tourist sites in the commercial market.

Many hotels in Greece are now owned by non-Greeks, and in all areas; cities and islands / coasts. Typical buy and sell margins are all in the double digits and can easily exceed 35% to 40%.

Greek and foreign banks in Greece are now lending substantial funds to finance commercial purchases. Tourism in Greece has been on the rise since the 2004 Olympics.

The residential market

The residential market in Greece is certainly dominated by the Greeks themselves; but only in the cities.

There are entire areas (Mani, for example, in the Peloponnese) that have become German and Swedish colonies. The areas near Thessaloniki (Porto Carras) are also fully developed with villas of all sizes and types.

Buyers typically don’t sell once the purchase is made, as they appear to be retirement deals.

There are a lot of reputable real estate brokers in Greece ready to help the potential buyer.

However, there is no substitute for traveling to Greece for an extended vacation and learning directly about the weather, geographical location, laws and regulations, Greek foods and customs, and financial (banking) assistance.

Moving in Greece to research real estate opportunities

It is very easy to rent a car to explore Greece. There are many ferries that can transport you to the islands, and the road system, even to remote mountain villages, is well developed.

The Greeks are a hospitable people and take great pride in entertaining visitors. As you research real estate opportunities, you can also meet the Greeks themselves and decide (as many have) that this is a great place to live and then retire.