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Greek RE market ‘skyrockets’ according to BoG’s first quarter figures

Foreign Capital inflow for the purchase and development of RE has increased by 130% at the first quarter of 2019, according to data provided by the Bank of Greece.

It looks like foreign investors will keep driving the demand in the Greek RE market. If the current rate of investment growth will remain the same throughout 2019, it is likely that at the end of this year there will be a total inflow of € 3 billion. The two main reasons for this rise are the short lease renting platforms such as Airbnb and the Golden Visa regulation. At least 80% of the Golden Visa investors, buy assets in Attica.

There is a high demand for luxurious RE assents on the Greek islands, especially Mykonos and Santorini. According to the data, for the first time there after ten years, there has been a rise in the prices of land plots in Attica.

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