News

A look at the current situation

The COVID-19 pandemic has taken a devastating toll even on the world’s major economies, a global recession is taking on nearly all economic sectors. Now nobody can predict the outcome of this situation and whether we are going to witness a global economic crisis. Both the governments and the citizens seem to be confused. Yet we need to remember, that every crisis situation can be a source of major growth potential, and the current crisis is not an exception to this rule. Today many of us reconsider their views on lifestyle, ways of earning money, and such reflections inevitably lead to the conclusion of staking on long-term investments, such as buying property abroad. The web search engines show an increase in queries on real estate purchases. People are looking for houses with land for sale because they realized that should another lockdown be introduced, they don’t want to be trapped in their apartments again. In this case, the prospect is quite tempting – to own a house with a piece of land — to buy it means to gain certain freedom of movement amidst severe restrictions, be able to grow your own fruits and vegetables to provide for your family.

Those, who can afford it, are seriously considering buying a house in countries, where the coronavirus situation has quickly stabilized and where one can get a residence permit. And according to these criteria, Greece seems to be one of the most attractive options. The local government took swift action against the threats, posed by the virus, by closing down even churches. Greece managed to effectively limit the spread of COVID-19 and now has invaluable experience in dealing with such-like threats. In general, the EU economy is only preparing itself for recovery, while Greece already started profiting from the tourism sector quicker than many other EU member states — its borders are opening for foreign travelers.

Many foreigners look to buying real estate abroad also to have a certain backup plan. In the times when at the peak of the pandemic international air travel was virtually paralyzed, many states allowed only those of their citizens to leave, who had residence permits issued by other countries.

To some extent, the pandemic altered the demand on the real estate market and it is quite possible that the noticeable trend of the potential buyers looking not only for houses and apartments but also for land plots for sale, will only strengthen.