Buying Property on a Greek Island

Greece is a treasure built on ancient ruins. For ages, it has been home to a variety of civilizations. Plus, you can’t get enough of its delicious cuisine.

Greece was the birthplace of European civilization, and it was there that the Olympic flame was lit. When you think about Greece, one of the first things that comes to mind is its stunning islands.

Buying a Property on a Greece Island

Greek islands are magnificent, with their dazzling white buildings, golden beaches, and azure oceans. So, how about spending the rest of your life in the gorgeous settings of Mykonos, Santorini, or Crete?

On the Greek Islands, you may live quietly or party till the mornings. The country’s continuous holiday atmosphere will amaze you sooner or later. After all, the Mediterranean people are friendly and lively.

Why Purchase Real Estate on a Greece Island?

The Greek Islands are a great place to invest money since property prices are cheaper than in other European nations, especially in recent years. Real estate in the Greek islands is a popular topic among search engines.

It’s no surprise that the Greek islands are so popular. Here are some of the most compelling reasons to invest in Greece island real estate.

Enjoy a Relaxed Atmosphere

Greek islands are known for their clear seas, mild climate, and delicious seafood cuisine. So, if you decide to live on a Greek island, you can expect a stress-free lifestyle with plenty of recreational activities.

Profit From Your Investment by Renting It Out

If you’re not planning on living in the house full-time, you can immediately rent it out. As the country receives millions of tourists each year, hotels are in limited supply. You may make a lot of money if you purchase houses near tourist attractions and rent them out. You may also rent out your space through Airbnb on a daily or weekly basis. Long-term rentals might also be a more realistic source of income.

Obtain a Residence Permit in Greece

Buying a house in Greece for €250,000 or more qualifies you for the Greece Golden Visa program, which allows you to live there permanently. This grants you visa-free travel inside the Schengen region, as well as educational and healthcare opportunities in Greece. This is the way to go if you want to reside in Greece without any paperwork.

What To Think About When Buying Property on a Greek Island

If you’ve already decided to buy property on a Greek island, have a look at the essential considerations listed below to help you make an informed decision.

Off-Season Accommodations

During the summer, the Greek Islands are excellent vacation locations. However, if you want to reside on a Greek island full-time, you should think about the off-season facilities. Is every supermarket open? What is the winter ferry schedule? It’s best to visit the island after the tourists have left and got a sense of the true local spirit.

Paperwork

Some houses on the Greek Islands are not registered to the title document, although it’s not very common. It’s possible to fix this throughout the purchase process, but it’ll cause delays. This is why dealing with specialists who can properly verify the papers is critical.

The Most Popular Greek Islands for Purchasing Real Estate

The unique landscapes, natural beauty, historical history, and architectural buildings of the Greek islands attract visitors. Of course, properties for sale may be found on the Greek islands, which attract a large number of visitors and tourists. The cost of a house on the Greek islands varies greatly. Let’s take a short look at the most popular Greek Islands for real estate investment.

Real Estate in Mykonos

Mykonos is a Greek island that lies approximately in the middle of the Aegean Sea and is one of the most popular. Geographically, it is placed on the Cyclades’ northern edge. It’s known for its beaches, over 300 days of sunlight, whitewashed houses, and turquoise water. The houses in Mykonos are quite pleasant and represent the traditional style.

Mykonos offers a diverse range of activities. It’s an island that appeals to people of all ages, with activities such as strolling through Chora’s small alleyways or watching the sunset from Little Venice. Super Paradise and Kalo Livadi both offer beautiful beaches where you may swim and sunbathe. Travel to Mykonos town for a night out in one of the many pubs and clubs. It also has a sufficient number of schools, hospitals, and supermarkets nearby. However, note that Mykonos real estate prices might be among the most expensive in Greece.

Real Estate in Santorini

Santorini is located 200 kilometers southeast of Athens, Greece. It has been named the world’s most beautiful island four times and is one of the most photographed sites on the planet. So, if you look at the Santorini real estate possibilities, you’ll see that there are numerous properties with lovely views.

Santorini is inspiring and attracts thousands of tourists each year. The island’s architectural buildings have a volcanic appearance. The architecture is classic Cycladic, with white-painted homes. Houses in Santorini preserve their traditional architecture. But prepared for the high prices in Santorini real estate market.

Real Estate in Paros

Greeks and middle-aged European visitors favor the island of Paros. It is known for its peaceful and picturesque towns, as well as its clean beaches and whitewashed homes. Don’t forget about the appearance of naturalness. Every hue of green and blue may be found on the island.

Since ancient times, the island of Paros has been known for its pure white marble. Visitors are treated to a visual feast of olive trees and vineyard-covered slopes. As a result, Paros real estate gets a lot of interest, particularly from those seeking peace and quiet.

Real Estate in Rhodes

Rhodes is a popular destination for nature and history enthusiasts and it attracts a large number of tourists. It is ranked first among Europe’s best-preserved islands. As a result, real estate prices in Rhodes are very expensive. The UNESCO-protected medieval old town is interesting. Apart from its historical significance, Rhodes Island is a famous tourist destination.

Real Estate in Crete

Crete is Greece’s biggest island. It is also the Mediterranean Sea’s fifth biggest island. Crete real estate market offers a wide range of possibilities for newcomers. Crete awes visitors with its historical and natural splendors. With the biggest palms on the European continent, the island is very interesting.

International and domestic airports are located in Heraklion and Chania, Crete’s second-largest city. As a result, getting to the island from Athens and other European towns is simple. The distinctive ingredients and tastes of traditional Cretan cuisine are well-known.

How Long Does It Take To Buy a Home on a Greek Island

If you are well-prepared, purchasing property on a Greek island is a pretty simple procedure. Obtaining legal assistance can help speed up the process significantly. Once you’ve settled on the property you wish to buy, the closing will take four to six weeks.

For more information, see our definitive guide to Buying Property in Greece.

Notary Services on Greek Islands 

A notary must be present while purchasing property in Greece. Notary services are available on all of the islands listed above.

Conclusion

Investing in a home in the Greek Islands real estate market may be a successful and pleasurable experience. Greece offers several advantages as a pure investment or a second residence. Please contact us if you have any questions about real estate investing in the Greek Islands.

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