A RECORD FOR FOREIGN INVESTMENT FOR REAL ESTATE IN GREECE
Historical high performance of 1.975 billion euros recorded in 2022 AGAINST 68% increased in 2022, compared to 2021, foreign direct investments in real estate, according to data recorded by the Bank of Greece. In total, they amounted to 1.975 billion euros, compared to 1.176 billion a year ago and 875 million in 2020. This is the highest amount of foreign direct investment in real estate that has been recorded in Greece historically, with the second largest being that of 2019 (1 .45 billion euros). In fact, the largest part of these investments comes from citizens of countries outside the European Union.
In more detail, investments in Greek real estate by citizens of Eurozone countries amounted to 590 million euros last year, compared to 473 million and 324 million in 2021 and 2020 respectively. From EU countries, outside the Euro Zone, they amounted to 106 million euros, from 71 million in 2021 and 43 million in 2020, while from the rest of the countries investments increased to 1.268 billion euros, against 628 million in 2021 and 507 million in 2020. Of the countries of the Eurozone, the most property purchases in Greece were made by Germans (160 million) and Cypriots (134 million), as was the case in 2021 (Germans 125 million and Cypriots 126 million). Of the third countries, most property purchases were made last year by Hong Kong nationals with 294 million (83 million in 2021 and 432 million in 2019), while the next largest figure comes from the Swiss with 179 million in 2022, against 149 million in 2021.
US citizens purchased real estate last year with a total value of 166 million (78 million in 2021 and 62 million in 2019). Accordingly, by citizens of Singapore properties worth 114 million (37 million in 2021 and 63 million in 2019), of the United Arab Emirates 78 million (29 million in 2021), of the United Kingdom 71 million (49 million in 2021), Israel 88 million (44 million in 2021 and 66 million in 2019), Turkey 46 million (9 million in 2021 and 14 million in 2019), Lebanon 20 million (11 million . in 2021), while from Chinese nationals 16 million against 7 million in 2021 and 184 million in 2019.
The interest from foreigners in real estate in Greece was one of the main reasons for the recovery of the real estate market after the ten-year financial crisis, and to the extent that it continues, it contributes to maintaining the upward trend of real estate prices. Part of the investments of foreign nationals in real estate are made within the framework of the golden visa, the granting regime of which changes from the beginning of May, unless the information is confirmed that the application of the new framework is about to be postponed by three months.