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Greece sees increase in home sales to foreign purchasers

One of the real estate investments a person may decide to make in a foreign country is to purchase a residential property in the country. Recent data suggests that interest in homes in Greece among foreign investors has been on the increase lately.

The data indicates that, in 2016, foreign buyers made 250 million euros worth of Greek home purchases in 2016. In comparison, the home sales total to foreign buyers for Greece in 2015 was 186 million euros.

So, such sales jumped up by over a third last year. The data points to such sales seeing a particularly big bump at the closing end of last year.

Experts have noted that these numbers could even be significantly underestimating the level of foreign buyer purchases of Greek homes last year, given the specifics of this data.

One wonders if 2017 will also see an increase in foreign buyer purchases of homes in Greece.

Trends in foreign investor demand regarding Greek homes can have significant impacts on Greek Americans who own, desire to buy or desire to sell a residential property in Greece.

Another thing that can have big impacts on such Greek Americans are Greek laws regarding real estate. These laws impact what issues can come up and be critical to address when it comes to real estate transactions or other real estate matters involving property in Greece. Navigating another country’s laws can have its complexities and challenges. An important thing for Greek Americans to remember is that, when complicated legal matters come up for them in relation to Greek real estate, such as Greek residential property, they can turn to skilled attorneys for help with navigating the matters.

Source: Greek Reporter, “Sales of Greek Real Estate Properties to Foreigners on the Rise,” Philip Chrysopoulos, April 5, 2017

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Hahalis & Kounoupis, P.C. - Greek Law Group
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