For the first time after forty years of operation of the Real Estate Objective Value Determination System, citizens are given the opportunity for direct information on property values through the application https://valuemaps.gov.gr on a nationwide scale and without spatial restrictions.
However, not only Greeks have used the system, but thousands of citizens from foreign countries who are interested in investing in Greece. According to information, 44,490 citizens have used the application during the first two months of the year to learn objective property values or to conduct their own market research, of which 3,500 are from countries such as :Germany (420), China (331), the United Kingdom (347), the United States (490), and even Japan.
Moreover, during the last six months (1.9.2022-1.3.2023), the system has served several million searches and property value calculations made by more than 130,000 different users, of which 10,000 come from abroad.
According to officials at the Ministry of Finance, 2023 has started even more dynamically and if there is no crisis that affects the market, real estate investments are expected to exceed the record of 2022 with an inflow of €1.975 billion into the Greek real estate market from abroad.
As shown by visits, relatives from the United States, Germans, Chinese and British have used the relevant application while there are also interested parties from Hong Kong, Taiwan, Thailand and Bermuda. The interest recorded is attributed on the one hand to the golden visa, and on the other hand to short-term rentals. In fact, the fact that as of May 1st, the amount of “golden visa” doubles from €250,000 to €500,000 leads many to direct placements in the Greek real estate market.
According to data from the Ministry of Migration Policy, 4,363 license applications (investors plus members) were submitted in 2022.
At Amoiridis Law Services® we are dedicated at assisting our well-respected clients successfully complete any of their investment projects in Greece. Thanks to our longstanding experience, we are able to provide a full package of consultancy services to our almost exclusively international clientele, customized to their specific needs.
As a result, we have represented clients from all around the globe regarding their projects in Greece. Our network of associate experts, composed by both in-house and external solicitors, notaries, accountants, tax experts, currency exchange experts, realtors etc., enables us to provide an all-in-one package of consultancy services, guiding you through the ways to properly protect your investments.
For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile.
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Athens, March 2023