A new investment landscape is in place, with improved practices and reforms. After many years of economic uncertainty, Greek economy since 2008 is now back again to normal levels and with great prospects ahead. However some challenges still remain, with the current center-right government be committed to tackle all of them and achieve the new economic miracle.

Greece’s economic prospects remain strong and very positive. Investments are rising and unemployment is dropping. The economic growth of 2019 has reached the 2% mark, growing positive for the third year in a row. Expanding and looking overseas, exports and foreign markets are top on the list for Greek businesses. However the challenges of high taxation and bureaucracy remain still; while risks from a slowing global trade environment and an uncertain geopolitical climate making the efforts more difficult. Greek Economy that shrunk by 25% after 2008 is now well back on track.

Investments are on the up in Greece. For three consecutive years, foreign direct investments (FDIs) have risen, surpassing the levels recorded before the country’s fiscal crisis. The trend is expected to continue. Tourism, infrastructure, and energy are drawing most of the attention, but investors are also taking a look at other areas such as technology, food and healthcare. Yet there is a lot of ground to cover. Greece needs €100 billion worth of investment over the medium-term to return the economy to its pre-crisis levels.

Greek Real Estate Outlook is Positive. Prices in residential housing are rising, while big investors and foreign buyers are looking around for prime assets and opportunities. However major challenges remain as low disposable income levels are holding back constraint demand, while taxes remain high, and bank lending very low.

After a strong fall of the market during the crisis years 2008 to 2017; prices in housing have plummeted by 42%. During the years 2017 and 2018 some estimates of about 270,000 Greeks rejected property inheritances, due to their inability to pay the relevant taxes. High taxes and poor market conditions created big problems for many homeowners in Greece.

Things have changed in 2018 and Greece’s economy began to grow again. As the country was coming out from its bailout programs after many years, and leaving behind all uncertain economic environment Greece economy was on a positive outlook. With a traditional strong tourism sector that parallel was boosting rental market and the country’s Investment Golden Visa Program the country has attracted and achieved big Foreign Direct Investment.

And it appears investors continue seizing the opportunities, since the net capital inflows from foreign investors into domestic real estate has increased by 55% in the first 9 months of 2019, versus the same period in 2018.

Doing Business in Greece is nowadays more easy, since late changes were late have made a real difference. Long procedures have been reduced or eliminated while more things can be accessed online. While investment incentives are kicking in and major reforms are underway; the friendly way for setting up a company; the fast-track licensing and the Golden Visa Greek Residency (for non-Europeans) are making Greece more attractive to foreign investors.