An extremely attractive investment option

An extremely attractive option for those looking for a combination of comfort and exclusive experiences close to nature is the investment in property on the Greek sea.

Attractive property prices, compared to a number of European destinations, give Greece a competitive advantage. Every year, tourists not only from Bulgaria, but also from all over the world are attracted by the spacious beaches, crystal clear water, and tranquility in Greece. Anyone who has visited even a part of its islands manages to immerse themselves in its atmosphere.

Another main advantage of our southern neighbor is the beaches, which have preserved their natural charm and beauty. In the small towns, the emphasis is more on low buildings, detached villas, and small and cozy streets, where real peace reigns.

Apart from its captivating nature, the Greek lands have a rich history and an interesting culture. Regardless of where you choose to buy your vacation property, you will have museums, galleries, and other architectural sites nearby. The fact that we Bulgarians are always warmly welcomed by our southern neighbors is not to be overlooked.

The costs of buying a property in Bulgaria and Greece are very similar, in general around 5-7% of the sale price

Example: If the transaction is a value of €100,000 and the property transfer tax at 3.09%, the costs will be as follows:

• Attorney's fees: 100,000 x 1.5%* = €1,500 (plus 24% VAT that is charged on this amount) = €1,860
• Notary fees: 100,000 x 1.5%* = €1,500 (plus 24% VAT) = €1,860
• Property transfer tax: 100,000 x 3.09% = €3,090
• Registration in the Real Estate Register: 100,000 x 0.5%+€150 = €650

In the last 3 years, the upward trend in property sales prices in Greece has outpaced that in Bulgaria. This is due to increased interest in buying not only from traditional buyers from the Balkan region but also from those from Western Europe, England, and the Middle East.

It is also important to note a new trend that has intensified in the last 2-3 years, namely the realization of investment intentions in various regions of northern Greece by Bulgarian construction companies. This is further proof of the good assessments of the Greek real estate market and the direction of its development.

All the prerequisites are in place to make a realistic assessment of the possibilities of increasing the price of a property purchased now in the next up to 5 years. According to most forecasts, the increase in prices will be in the range of 20-45%. This is a sure prerequisite for the realization of a good profit from an investment made now in real estate in our southern neighborhood.

In addition, the possibilities for the realization of passive income from vacation rental of the property, during the periods in which it is not used by the owner, are not to be neglected.