Humanity and the global economy faces one new challenge and, it is called COVID-19. The new pandemic has brought ups and downs in all sectors. There are many sectors that were negatively affected by the total lockdown, the market is almost frozen and everything around it is moving slowly or not moving at all.
Of course, the real estate sector did not remain untouched. Prices, demand and agreements are frozen, canceled and changed in this new situation. The advance payments were refunded, the claims made were frozen and the investments planned were postponed. Real Estate Buyers in Greece were scared and hesitant to move on as the future seems uncertain. The uncertainty of tomorrow caused instability.
Buyers are demanding a reduction in property prices as they have lost planned income. Tenants are asking for a reduction in rental prices as they cannot meet their obligations.
Buying and selling properties in Greece has a tendency for lower prices and higher supply on new real estate in the market. Greece was lucky in this chaos of the pandemic along with the government protection measures that were imposed at the right time. The Coronavirus cases were not too many and the country remained almost unaffected from the dangerous virus.
However, this does not mean that investing in real estate in Greece was not affected. Today the property prices in Greece have already gone down during COVID-19 times. Perhaps in the future will fall even more and maybe the right time has come for the bold investors. As the famous Greek poet wrote, Odysseas Elytis (Nobel Prize for Literature, 1979):
If you take Greece apart, in the end you will be left with an olive tree, a vineyard, and a boat…which means that with these items you can rebuild Greece.
In other words, this means that Greece will never lose her beauty and attractiveness as a country, it will always be the «jewel of the Mediterranean» and will attract visitors and investors.
Let’s stay positive & healthy!
Contact us & our team of experienced engineers will be happy to assist you! We have designed and developed several house renovation & construction projects in Crete Greece.
email@example.com or at +30 28310 30280
Buying or Building a House in Greece F.A.Q.s:
Do I need a Greek Tax Registry Number (AFM) to buy a house in Greece?
Do I need an Accountant to buy a house in Greece?
Do I need to pay an annual tax on my property?
Do I need a lawyer to buy a property a property in Greece?
Do I need a Notary public?
Should I be present when contracts for my new property in Greece are signed?
Is it a good idea to buy property in Greece?
How much does it cost to build a house in Greece?
What is the average price of a house in Greece?
What is the cost of taxes and legal fees for property purchase in Greece?
What is the land requirement for building a house?
Is it better to buy and renovate an old stone house or to build a new house?
What is the Greek Golden visa?
How do you get residency in Greece?
Can foreigners own property in Greece?
Is Greece a good place to retire?