In 2023, the Greek tourism industry will usher in a strong recovery, with passenger traffic at major airports and ports breaking historical records. At the same time, Greek housing prices continue to rise, once again becoming the focus of foreign investors.
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Greek tourism recovers strongly
Passenger traffic at major airports and ports hits record highs
According to Greek official data, the passenger volume of Athens International Airport and the number of cruise passengers in Piraeus Port both broke historical records in 2023.
? According to data released by Athens International Airport:
In 2023, passenger traffic will reach 28.2 million, an increase of 24% over 2022 and 10.2% over 2019. Domestic passenger traffic will increase by 18.9% over 2022 and 13.3% over 2019. International passenger traffic will increase by 26.4% over the same period. An increase of 8.8% compared to 2019.
According to provisional data from the Port of Piraeus:
In 2023, it will receive a total of 760 international cruise ships and serve about 1.5 million tourists, 620,000 more than in 2022, with a growth rate of 70%.
In addition, the number of ship arrivals at the Port of Piraeus may reach a new high in 2024, as there are currently 1,042 bookings for arrivals.
House prices continue to rise
Investor returns increase!
The global real estate market continues to be sluggish due to increased instability in the global economy, reduced purchasing power due to inflation, and tightening of credit conditions. However, the performance of the Greek real estate market is still eye-catching, making it an ideal overseas asset allocation destination for the middle class.
According to Greek media reports:
Compared with the fourth quarter of 2022, the national average price of rental houses in the fourth quarter of 2023 increased by 8.8%, and the average price of sold houses increased by 11.9%. Compared with the third quarter of 2023, national residential sales and rental prices increased by approximately 1%.
In terms of increases, Piraeus and its suburbs experienced the largest increase in the average price of residential sales in the fourth quarter of 2023 compared with the fourth quarter of 2022. When it comes to rentals, Piraeus and the center of Athens are among the regions with the largest increases in average residential rental prices.
In addition, the Bank of Greece predicts: “To the extent that overseas demand will remain unchanged and the supply of prime real estate remains limited, prices in the high-end market are expected to continue to rise, as will prices in the secondary market.
In the post-epidemic era, even if the global economy is clouded, Greece is still "growing towards the sun and pursuing the light" and "fully blooming" in many fields. The European Commission predicts that Greece's GDP will grow by 2.3% in 2024 and 2.2% in 2025. %.
At present, the Greek economy has released many positive signals, and investors with a long-term perspective have taken the lead in entering Greek real estate. While enjoying the appreciation of asset value, they can obtain a Greek permanent residence visa!
Investors who invest in real estate in Greece starting from 250,000 euros (starting from 500,000 euros in some areas), the whole family and three generations can apply for a Greek permanent residence visa, travel smoothly to the Schengen country, and at the same time enjoy Greek education, medical care and other social welfare benefits.
If you have overseas identity, asset allocation, children's education, etc. needs, please act as soon as possible to plan the layout. For related matters, please contact Xingyunhai International for details!
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