Foreign Investment in Greek Properties Skyrockets in First Half of 2019



Neighborhood in central Athens, near the Acropolis. Wikimedia commons

According to the latest data published recently by the Bank of Greece, the foreign capital flowing into Greece to buy properties during the first six months of 2019 showed a staggering increase of 49 percent compared to the same period in 2018.

Last year itself was also a record-breaking one for the purchasing of real estate by foreigners in Greece.

According to official data, between January and June of 2019, a total of €740 million was invested by non-Greek citizens to buy properties throughout the country.

The same figure for the entire year of 2018 was €1.1 billion. Just one year prior, in 2017, the corresponding figure came to just €415 million.

If this year’s trend continues over the second half of 2019, then this will be another record-breaking year in terms of foreign capital invested in the country’s real estate.

More specifically, real estate prices in Athens have already recorded a double-digit increase in 2019 compared to 2018, as they showed an average increase of 11.1 percent.

The new, conservative Greek government has pledged to boost the property market in Greece with a series of tax cuts to be instituted in the near future.