purchases by foreigners in Greece moved back up to 2014 levels last year, mainly
thanks to the considerable recovery seen in transactions over the last few
months of 2016.
to Bank of Greece data, the value of residential properties sold to foreign
investors grew 34.5 percent year-on-year to reach 250 million euros, from 186
million in 2015. In 2014 the inflow of capital for the acquisition of homes in
Greece had also come to 250 million euros, against 168 million in 2013 and 113
million in 2012.
market sources say that the actual amount invested last year was far above that
recorded by the central bank because the bulk of residential property
acquisitions by foreigners are conducted outside the Greek banking system.
Estate agents who typically work with foreign buyers testify that the majority
of Greek sellers ask that the payment be made into an overseas account. They are
even prepared to travel to another country with the contract in hand to open a
new account. These are entirely legal transactions taxed in Greece, but with the
revenue staying abroad.
year the improvement of terms in the Golden Visa program, which grants
residence permits to foreign investors who spend at least 250,000 euros on
property in this country, served as a carrot for buyers from abroad. Figures
show 1,573 such permits were delivered to property buyers in the period from
when the program was introduced up to end-January 2017, with a great increase in
Turkish recipients, whose property purchases both in Athens and at summer
resorts have risen substantially since the July 15 coup attempt in the
neighboring country last year.
reason is the fact country homes in Greece are much cheaper than at rival
destinations for Northern European buyers. Global Property Guide data put the
average rate for a high-standard asset in Greece at 2,700 euros per square
This blog is the result of many years of living in Corfu. When we started thinking about making a blog we pondered on titles – ‘real life in Corfu’ was a possibility until someone said they couldn’t think of anywhere further away from real life than Corfu and maybe it should be called Fantasy Island. This then led on to a reminiscence of a quote from the past that Corfu seems to have its own set of rules for life, and none of them bear any resemblance to the rest of the world! So here it is The Corfu Blog - a hotchpotch of thoughts, articles, business, opinions and photos, for those who are interested in life in Corfu.
Diana came to work for a well-known villa company, stayed, and has been involved in almost every aspect of tourism and property that Corfu has to offer (apart from opening English Imports with Susan nearly 14 years ago).
Sarah came on holiday in the eighties, and despite having a variety of jobs, she never found her "niche" until Corfuhomefinders came along. Living here for twenty three years, with two grown up children, she is settled and content with island life, feeling more at home here than in the depths of Wiltshire.
Susan came to Corfu with a ready-made Greek family (husband, two children and one on the way) and now, 30 years later, lives in an olive grove high on a hillside in the north of the island. She spent a number of years "at home" raising four children and a variety of dogs, cats, donkeys and other animals. Tourism then beckoned, and a job with a villa company visiting some of the most beautiful properties on Corfu, and the gradual realization that estate agency was the ideal occupation for someone so interested in houses and villas.