Center Athens Real estate. Buying property in Athens has never been more enticing. It’s a city blessed by the gods with its crystal blue coastline, magical sunsets and mountainous landscape. But before you sign on the dotted line in a post-holiday haze, it helps to do some homework.
Greece has traditionally been a nation of land or home owners who proudly passed on the property deeds to the next generation through death or marriage. But as the realities of the Greek economic crisis set in, high unemployment and the collapse of the real estate market quickly followed, leaving many to inherit debts and taxes they couldn’t service and properties they couldn’t maintain.
With low residential prices and high yielding short-term rental income, investment from overseas buyers has surged in recent years, allowing many to realise their dream of owning a summer holiday pad in Greece and indeed, Europe. The five year residency visa via Greece’s Golden Visa programme has also helped push things along. Enterprise Greece estimates one billion euros have been invested in the overall real estate market in Greece, since the programme began in 2013. Buyers however should proceed with caution as the Greek economy is still in recovery and investing in real estate is not without risk.
Athens offers an easy lifestyle against the backdrop of a buzzing and dynamic city that is steeped in history and legacy. The harsh economic climate has seen some positive change and exciting developments in food, art and culture, providing a much more rounded urban experience and making it one of the most exciting cities in Europe right now. The sea and its southern coastline of Blue-Flag beaches are easily reached from the centre, as are the many hills you can climb to admire its beautiful landscape from above.