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Housing

Greece Plans to Increase Golden Visa Requirement to €800,000

Greece will increase the threshold of the minimum investments for third-country nationals to acquire the Golden Visa, PM Kyriakos Mitsotakis announced in parliament on Friday. Speaking at a debate on the housing crisis affecting hundreds of thousands of Greeks, Mitsotakis...

Greeks Among the Oldest Young Adults to Leave Parental Home

Greece is in third place in Eurostat's European ranking of the age at which young people start living independently. According to recent data, on average, Greeks leave their parents' home at 30.7 years old. As of 2022, on average, Europeans...

Inflation in Greece Jumps to 12 Percent in September

The annual inflation rate in Greece rose to 12 percent in September, up from 11.4 percent in August and 11.6 percent in July, the Hellenic Statistical Authority (ELSTAT) said on Monday. More specifically, the consumer price index rose 2.9 percent...

Inflation in Greece Hits Double Digits at 10.2 Percent

Greece's annual consumer inflation jumped to its highest level in 28 years in April at 10.2 percent on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday. The increase of inflation by 2.1...

US Fed Raises Interest Rates for First Time Since 2018 to Stem Inflation

The US Federal Reserve announced a quarter-percentage point interest rate increase on Wednesday, nearly two years to the day the central bank slashed its benchmark federal funds rate to zero amid the recession triggered by the COVID-19 pandemic. "It's clearly...

Commissioner For Refugees Criticizes Greek Plan To Close 60 Refugee Centers

Following Greece’s announcement to close 60 refuge housing centers, the the United Nations High Commissioner for Refugees issued a statement, saying the agency was “deeply concerned” by the Greek move. This follows comments by Migration and Asylum Minister Notis Mitarakis...

Greek Homes Lose a Third of their Value in 5 Years

The Greek economic crisis has hit the housing market hard as new data for the 2009-2014 period show that the median value of Greece's first residences, declined by 34%, from 106,340 euros in 2009 to 69,834 euros in 2014. Official...

Housing Sector Dealing with Over 10,000 Older Homes Abandoned Last Year

The latest data from GLP Values chartered surveyors of advisers, expert agents and brokers shows that an estimated 150,000-180,000 existing properties in Greece are being ignored by potential buyers as there is no demand for the older residences. According to sources,...

Cyprus Real Estate Sales Increase 37% in October 2016 From Previous Year

Real estate sales marked a significant increase of 37% in October 2016 compared to the same month the previous year, continuing an upward trend that began last February. An indication of growing real estate sales is that during the first 10...

Cotton Mill Turned into Migrant Center in Thiva as Cretan Officials Raise Concerns over Construction of 4 New Migrant Camps

According to Greek officials, the government is planning to use a former cotton mill near the city of Thiva in central Greece to house some 1,000 migrants. The government plans to transfer the majority of the migrants currently living at...