Perhaps the oldest saying in the world of real estate investments is “when it comes to properties, it all about location, location, location”. Land may be one of the safer “commodities” once can invest in since it rarely loses its value dramatically, but in the end, the return on such investment really depends on where the property that you will buy or rent will be located in. Now, for most people, the term location refers to the geographical position of a property, in other words, whether or not it is located in a beautiful and safe area that people would gladly spend a lot of money in order to live there. However, the country that the property is located in, might be even more important, especially if one invests in properties outside one’s own country.
So, when it comes to investing money in another country, the ideal country should fulfill two criteria: popularity and opportunity. Popularity refers of course to how willing a tourist or another investor would be in buying or renting property in a given country. Opportunity refers to the social and political situations that define the value and prices of real estate. It is very rare to find a country that fulfills both those criteria at the same time, which is what makes Greece one of the best countries in the world for people looking to invest in real estate and specifically in villas or luxury properties.
One of the most popular tourist destinations in the world
When it comes to holiday destinations, Greece almost always seems to rank among the most popular. This is because the country is well known for its rich history, its many archaeological sites and museums and of course its gorgeous beaches and sunny weather. Why does that make buying a villa in Greece a great investment though? Well, luxury vacations have been getting more and more popular for the last decade or so, which means that tourists nowadays are not just looking for a few days of relaxation when they go on vacation. They want to live it up a little and spend some days as luxuriously as possible. It’s true that, luxury villas in Greece for rent have become a huge trend in the last couple of years and more and more people start to like them and enjoy their holidays there but even more people see the opportunity not to just rent them but actually buy them since it’s an amazing investment opportunity.
Because of this, more and more people are opting to stay in a villa rather than book a room in a hotel. Villas are more spacious, luxurious and private. Plus, a group of friends can just split the rate between them which can easily result in each guest staying in a villa paying the same amount that they would pay should they have opted for a room in a good hotel. In other words, a villa in Greece is a steady source of income and one of the safest real estate investments in Europe.
The tail-end of a crisis
As you may know, Greece recently went through a huge financial crisis. A lot of rich Greeks ended up bankrupting their businesses and trying to sell of their assets in order to pay their debts and taxes or to just get the cash they needed to fund a new business venture. This means that a lot of very luxurious villas are currently available on the market for ridiculously low prices. In other words, now’s the time to buy prime properties extremely cheap, which of course is every investors dream.
Greece is starting to recover from the crisis, but the real estate prices, especially when it comes to villas, aren’t going to go up any time soon, since only the wealthiest of Greeks are currently able to buy property in their country. The prices may seem low to foreigners, but they are very expensive for Greeks. So, if you want a villa that you can flip or rent in one of the most popular tourist destinations in the world, sets your sights on Greece.