Greek real estate in demand among foreign investors. In 2017, the total value of completed real estate transactions almost doubled from 2016. What should investors know to get the higher rental yields?
To get a Greek residence permit, investors have to spend only €250,000 on property.
A number of Greek legislative acts, including Law No. 4146 of 2013 regulate staying in the country, obtaining a residence permit and Greek citizenship.
Rental yields have been declining in Europe in recent years. As a result, many investors have turned their attention to redevelopment projects, which typically have projected returns of 10–20% per annum.
Tranio client Olga’s second property purchase abroad is an apartment in the town of Styria, located in the municipality of Bad Gleichenberg, Austria. She considered properties in Miami and Berlin but eventually settled on Austria, where she already owns an apartment. How did a small Austrian resort town captivate her?
The Peloponnese, in the southern Balkan Peninsula, is Greece’s third-most popular region among foreign property buyers. Where and at what price should you buy real estate there?
The Greek economy is recovering from the crisis. The main growth driver is tourism, and the Greek government and the European Union are now actively investing in the projects that will make Greece even more attractive to tourists.
Where do Russians look for property abroad? Tranio analysed data from Russian search engine Yandex relating to search queries for residential real estate to find out the 10 most popular countries among its users.
An important source of information about capital flows out of Russia is the country’s Central Bank, which publishes official individual cross-border transfer statistics. According to its data, in the 12 years between 2006 and 2017 inclusive, $479 billion (or $519 billion, adjusted for inflation) was transferred from Russia to 257 foreign countries and territories.
In first quarter of 2018, Tranio ranked third among the most cited Russian media resources in the real estate and construction industries.
On May 5, the European Central Bank (ECB) published results of stress tests involving Greece’s four largest banks. In the worst-case scenario, their capital should not fall below the ECB’s minimum requirements over the next three years. This indicates that the restructuring of the banks in recent years has been a success.
The Greek economy is recovering – the country experienced four consecutive quarters of GDP growth in 2017 and the economy is expected to grow 2.5% growth per year in 2018 and 2019. In this environment, real estate prices can only be expected to grow.
The volume of online transactions is growing by about 20% per year. If this trend continues, e-commerce will reach €4.4 trillion annually by 2020. How will this affect street retail properties?
Investors often ask for our help in finding a 10–30 rooms hotel managed by an established operator under a long-term contract abroad. However, they do not plan on relocating and participating in the management of the hotel but want to receive a guaranteed income.
Against a backdrop of an unstable ruble, Russian owners of foreign property are more often than ever trying to save on property maintenance costs.