According to the data released by the Bank of Greece, the inflows of Foreign Direct Investment in Greece for 2018 amounted to €3,6 billion. In 2019 FDI inflows reached 4.1 million euros, presenting an increase of 12.2% and marking a record for the last decade.
The rapid development of short-term rental platforms like Airbnb, along with the growth of the tourism sector in Greece, as well as the country’s economic recovery, has played a key role in this positive tendency.
Approximately four out of five non-Greek real estate investors are other EU nationals, such as Germans, Dutch, British, French, and Italians. Other investors, who are not EU nationals, are mainly Russians, Chinese, and citizens of Arab countries.
In addition, bilateral cooperation between Greece and China, which has been increasingly fruitful lately, is also worth mentioning. The port of Piraeus- the gateway for Chinese goods to the European market- has undeniably become China’s landmark investment in Greece, which has ushered in a new era of economic partnership between the two countries. However, the increased interest of Chinese people in Greek real estate and obtaining a Golden Visa should not be underestimated too.
According to a survey conducted by the state investment agency “Enterprise Greece” in 2019, Chinese nationals prefer buying real estate worth more than 250.000€, in other words, the minimum amount that should be spent on property to obtain a residency permit.
It should also be pointed out that the total Chinese investments amounted to 850 million euros. Furthermore, in recent years Chinese companies have purchased an impressive number of multi-storey residential buildings. These buildings were sold at 700 €/sq.m or even lower, increasing the total value of the purchases to 1 billion euros. Finally, it should also be noted that the number of individual properties is already approaching 4000.
As a result, the steady economic growth, the end of the country’s international financial bailout, as well as the increased investments in the Greek economy, have definitely contributed to the creation of a favorable investment climate and thus the “burst of investments” is expected in the coming years.
Therefore, should you seek to invest in Greece, either in the real estate sector in Athens or in the many beautiful Greek islands, or to invest in any other sector of the economy, “DKG Development” is the ideal partner to help you make the most of your investment due to its diverse expertise and experience.