‘Strike while the iron is hot‘ may well be the perfect phrase to describe Greek property at the moment; the combination of attractive residency opportunities, a finally recovering economy, a booming tourist industry and plenty of room for price growth is making Greece an irresistible 2018 target for foreign property investors.
In 2016, Roman, a lawyer from Kiev, bought a profitable apartment in Budapest with the help of Tranio. In his previous interview, he told us about his search and the purchase procedure. Did he manage to achieve the planned yield and has the apartment increased in price? Tranio caught up with Roman to find out.
The increase in the number of tourists worldwide is driving the growth of the hospitality industry. In 2017, the volume of transactions in the European hotel property market grew by 11% to a record €20.9 billion. What countries and types of hotels should investors look at in 2018?
In 2017, the volume of foreign direct investment in Greece grew by 30% from the year before, reaching €3.6 billion. Tranio looks at why foreign entrepreneurs are returning to Athens.
A Greek passport grants holders its access to 174 countries around the world. They also get the opportunity to live, work, travel, study, buy property and run a business in any EU country.
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.