Quest Greek Islands

Property Market in Greece 2015

Investors buying in Greece: Greece for a number of years has long been one of the more popular tourist destinations globally.

However, during the last few years despite the crisis in Greece, an increasing amount of buyers with spare cash have begun to show interest in the Greek property market and purchased properties here.

Here is a overview of the current market situation as well as significant transactions in Greece today.

• 26% of the new Athens airport have been sold to the “Public Sector Pension Investment Board of Canada” for EUR 1.5 billion.
• The premises of the old Athens airport have been sold to a private consortium led by “Lamda Development SA & Global Investment Group” for EUR 2.2 billion.
• “Olayan Group” has invested EUR 1.2 billion in a project at Costa Navarino.
• Dolphin Capital Investors in Greece and Cyprus have invested more than EUR 900 million in hotels and premium projects such as Amanzoe, Chedi or Nikki Beach Resort.
• The Russian oligarch Dmitri J. Rybolowlew, owner of AC Monaco, has bought the famous Onassis island “Scorpios” for EUR 100 million.
• The royal “Al Thani” family of Qatar has invested more than EUR 20 million in a hotel on a private

Further investments in high-end properties worth several millions of euros have been made both in Athens as well as on premium islands like Mykonos and Santorini, for example.

All of these examples and facts show that, despite the crisis, the real estate industry in Greece is still an
economic factor which is not to be underestimated, even if prices have almost halved in recent years.

One of the reasons for the growing demand is the GOLDEN VISA program.

While obtaining a GOLDEN VISA in countries such as Portugal or Spain is only possible with an investment starting from EUR 500,000, it can be obtained in Greece by purchasing property starting from as little as EUR 250,000. This means that there is a huge market volume for us to work with.

Because of the excellent climate, clean beaches and safe seas, the entire Greek territory offers tremendous investment opportunities. The right moment for investments is now. The crisis is an opportunity to be used by smart investors.