Short answer:
Investing in Greece is considered more stable thanks to economic recovery, growth, a strong tourism sector, foreign investment, and government support for investors. However, as with any investment, it is important to research the location, the property, taxation, and financing costs.
Unsurprisingly, buying a home in Greece has become an attractive option for many Israelis looking to invest in real estate abroad.
In an iPanel survey regarding Israelis’ preferences for overseas investments, 31% of respondents reported that the war, security tensions, and socio-political changes had strengthened their desire to invest outside of Israel.
According to Peleg Yariv, CEO of Palmo, “On October 7, we were called up for reserve duty, and upon returning to the office, we discovered that the company had been flooded with inquiries. According to our data, there has been a 20%–30% increase in sales compared to the same periods before the war began. Today, more and more Israelis are looking to diversify their investments abroad, and while in the past this type of investment was considered a risky venture, today thousands of Israelis are pursuing investments overseas. In one of the projects we marketed near the center of Athens, all the apartments were sold in just one week.”
According to Yariv, “The ‘Golden Visa’ allows investors to obtain residency status and helps diversify risks, leading to faster-than-expected sales in various projects. Apartment prices in Greece allow young couples, who cannot afford to buy an apartment in Israel, to invest in real estate, or older couples interested in an investment property.”
Palm’s data also shows that while before the start of the current war, the overwhelming majority of Israelis were interested only in investment properties, there is now growing interest in residential apartments. “The profile of those interested is mainly people who can work remotely,” says Yariv.
Another trend observed recently is an increase in demand for short-term rental apartments (vacation rentals), based on the idea that if the investor or their family needs an apartment for residential purposes later on, it can serve as a place to live without interruption and without a binding lease.
Peleg Yariv, CEO of "Palmo": "On October 7, we were called up for reserve duty. When we returned to the office, we found that the company had been 'flooded' with calls and had received thousands of inquiries. Since October 7, the company's offices have been 'flooded' with calls, and we have received thousands of inquiries. We saw a 20 to 30 percent increase in sales this past January compared to the same period last year. Today, more and more Israelis are looking for ways to diversify their investments abroad, and while in the past this type of investment was considered a risky venture, today thousands of Israelis are doing so from Israel.”
In terms of property types, while before October 7 most Israelis were interested only in investment properties, after the outbreak of the war there was a growing interest in residential apartments. Those expressing interest are primarily people whose jobs allow them to work remotely. Another trend observed is an increase in demand for short-term rental apartments (vacation rentals), based on the idea that if the investor or their family needs this apartment later for residential purposes—as a sort of “refuge”—they will be able to move there without hindrance and without a binding lease.
