Foreigners invested 1.1 bln euros in property in January-June

Foreign investments in Greek property will likely post a record high this year.

Bank of Greece data show 1.1 billion euros flowed into the country from abroad in January-June, up 39.5% from last year, when foreign investments amounted to €788 million.

Growth accelerated in Q2, when €605.8 million was invested, for a 46.2% yearly increase. Throughout 2022 €2 billion had flowed in, up 68% from 2021.

The reasons investment interest from abroad is growing in 2023 are the appeal of short-term rentals, the demand for residence permits – the Golden Visa program – and that Greek properties are still cheaper than in other countries.