We are not considering the island of Evia yet, since last year it was badly damaged by fires and only those who love this island buy real estate there (it resembles Crete a little, but in miniature). From a tourist point of view, Evia is not so developed yet, most likely, the time for its development has not yet come. You need to travel around it, live there to understand what you can buy there and whether you need it at all.

As for apartments in Greece, there are catastrophically few new buildings here, not at all like in Montenegro or other countries. But there is also a lot of land for sale for building.

Based on the fact that, for example, the request was for apartments by the sea, I will start with a description of the resorts.

I must say right away that Athens and everything around Athens is rented all year round both daily and for a long period:

1. The seaside suburbs of the southern coast closest to Athens. These are both urban areas, such as Paleo Faliro, Alimos, Glyfada, Voula and Vulyagmeni (as the price per sq.m. increases), and the nearby suburbs - Saronida, Anavisso, Lagonissi. Further along the coast there are already micro-settlements and cottages up to Cape Sounio.

Paleo Faliro, Alimos, Glyfada, Vula and Vulyagmeni - from 3 to 8 thousand euros per m2 (there are new buildings, many are sold out instantly at the construction stage).

2. Athens areas 1-3 km from the sea, are interesting for investment for renovation and resale, construction of an apartment complex, offices or long-term rental). These are the areas where freelancers, IT specialists, employees of shipping companies, yacht brokers, etc. live and work). The name of these Areas is Agios Dimitrios, Ano Glyfada, Ano Elliniko. There is an apartment for sale there, I will send it by a separate letter. The cost of apartments in these areas is from 2.5 to 5 thousand euros per m2. Prices are also rising here, as the Helliniko project is nearby https://theellinikon.com.gr/en/the-project /.

3. The eastern suburbs of Athens, close to the airport, where there is a well-developed infrastructure and people live constantly - Nea Makri, Rafina (there is a port in Rafina from where ferries depart to the Cycladic Islands). There are also small holiday villages that fall asleep in winter - Porto Rafti and Lutsa (Artemis). It depends on what goals the buyer pursues. Here, in principle, you can find good apartments for 2-2.5 thousand euros per 1 m2 not in a new building. New buildings in this area cost about 2.6-2.9 thousand euros per m2 at the construction stage and 3.5-4 after completion. But they are usually immediately redeemed a year before delivery.

4. Loutraki, a resort on thermal springs on the shore of the Ionian Sea. It is a small town with infrastructure on the shore of the Ionian Sea. Most of the locals live in private houses, the center of Loutraki is the buildings of the 80s, let's call it the old foundation. But now new apartments are being built, there is a new complex for sale, which will be ready by April next year. I went and watched it, I'm waiting for prices and plans, but it will definitely be no lower than 2600 euros for 1 m2 parking space for an additional fee. The cost of m2 in Loutraki today is from 1,7-2 thousand euros per m2 in the old fund, depending on the distance from the sea. I would recommend clients to pay attention to this resort, as here you can buy apartments at a good price and furnished as well, ready to move in or rent out.

5. Porto Heli (180 km from Athens) is a summer resort for wealthy people. Two marinas, sea taxis to the island of Spetses, villas, picturesque bays. There are few apartments for sale here, the cost in the old fund is 3 thousand euros per 1 m2 on the middle floor. But also old houses are being sold on plots in the city itself, which can be demolished and 5-6 apartments can be built. This region, as well as the Athenian Riviera, can be considered as a good place for investment. There are quite a lot of land plots for the construction of villas for sale here.

6. Nafplio is the first capital of modern Greece, a tourist city. It is divided into 2 parts - the old city, the historical center and the new one. Apartments are mostly sold in the new part. The cost is 1.6-2.2 thousand euros per 1 m2. There are a couple of new buildings 3,2-3,8 thousand euros per 1 m2.

Everything else around Athens is small resorts and holiday villages that come to life only for the summer. There are few people in winter, the hospital is far away, schools are not everywhere. In such villages in the North of Attica, in Kineta and in the North of the Peloponnese, you can buy an apartment of 60-70 m2 up to 100,000 euros. Daily rental rates for the summer, of course, are lower there than in the places I listed above.

Property prices in Greece have increased by 30-35% over the past 3 years. And they continue to grow.

If you have a goal to invest in a small apartment, then there are 2 working options:

1 - Halkidiki in a new complex with a swimming pool, will work for 3 months and rent from 120 to 180 euros per day.

2 - Athens near the Acropolis, with a fresh renovation, will work all year round (except February, it is weak) and also rent for 120-180 euros per day.

Their cost will be the same 230-260 thousand euros. There are similar apartments in Athens, I will send them in the following letters.

Of course, you can find apartments or new buildings in Halkidiki without repair, away from the sea and cheaper, up to 150 thousand euros. But they will also give up a little cheaper.

If your goal is to live, then that's another question. For life, you need to select specific options for a specific request (family composition, occupation, age of children, sports, etc.).

A small example is an apartment with cosmetic repairs, 2 bedrooms in a good residential area of Athens for rent per month without furniture and Parking for 500-600 euros, and with repairs, furniture and appliances 800-900 euros. For sale, such an apartment costs without repair 1,8 - 2 thousand euros per m2., that is, about 110-120 thousand euros.

As for the maintenance of real estate, usually special companies are engaged in this in cities and each sets its own tariff for cleaning entrances and garbage collection. Approximately this is from 12 to 30 euros per month for an apartment of 60-70 m2. If this is a tourist complex with a swimming pool, then I can't say on average, it is necessary to check with each specific complex before buying.

The property tax is paid once a year and is calculated based on the cadastral value of the apartment, but approximately for an apartment of 60-70 m2, it is 100 -200 euros per month. Excluding super expensive areas like Woola, where the maximum will be 400 euros per year.

The purchase costs are approximately 9% of the market value.

Do not forget that when buying in the amount of 250 thousand euros, the Golden Visa program works, which gives the buyer and his whole family (children, parents, husband-wife) a residence permit for 5 years. This is not necessarily a condition, it is an opportunity.

The information is current as of 08/17/2022