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Real Estate in the Greek Islands

Why should you invest in the Greek Islands?

Questions and Answers

Which Greek islands are recommended for investment?

Investing in the Greek islands spans many sectors: residential, tourism, and more. The Greek islands offer numerous opportunities, including buying a home in Greece. Here are a few islands recommended for investment, but it’s important to note that any investment should be made only after thorough market research and with a company you trust:

Chalkidiki: This is not a single island, but a peninsula divided into three “fingers.” The region is also divided into several areas and offers charming beaches, easy access, and much more affordable prices than the other islands. Investment opportunities include apartments and, primarily, vacation villas.

Mykonos: One of the most popular and exclusive islands in Greece. Investing in Mykonos can offer high returns. Prices in Mykonos are relatively high.

Santorini: The island is a major tourist destination, and its unique scenery attracts crowds of tourists every year. Investment on the island is primarily focused on tourism.

Overview: A beautiful island offering lush green landscapes and stunning beaches. It presents opportunities forreal estate investment, particularly in the tourism sector, as it attracts a large number of tourists every year.

Paros: A popular vacation destination that offers investment opportunities in the tourism sector.

Zakynthos: An island with stunning beaches, it offers investment opportunities in the hotel and villa sectors.

Corfu: The island is an extremely popular destination. There are numerous projects underway to build luxury hotels and villas.
Crete: Greece’s largest island offers a wide range of investment opportunities due to its size and large population.

Rhodes: With its ancient history and thriving tourism industry, the island offers investment opportunities primarily in the tourism and leisure sector.

Is investing in the Greek islands a worthwhile investment?

The Greek islands are a popular tourist destination, promising stable rental income, especially during the high season. In addition, the real estate market"real estate market on some of the islands still offers good prices. However, it is important to conduct thorough research and assess the economic potential of the area where you are interested in investing, whether inreal estate in Athens or any other region. Most real estate investors"on the islands want to visit and enjoy the property throughout the year, so the return depends on how many days a year you’ll come to spend at the property

What does the Golden Visa offer?

Those eligible for the Golden Visa may reside in Greece and many other European countries for five years, after which it can be renewed.

What is the tax treaty between Israel and Greece?

The treaty allows Israeli residents to avoid paying tax in Israel if they have earned income from real estate in Greece; in other words, even after paying tax in Greece, they will not be required to pay the remaining tax in Israel, which is unusual compared to other treaties.

What taxes are paid in Greece on the purchase of an apartment? And what are the taxes on income?

– The purchase tax is 3.09%.
– Income tax on rental income is 15%.
– Capital gains tax: There is an exemption.

How much does it cost to buy a property in the islands?

The prices for purchasing an apartment in the Islands vary widely and depend on several factors: the apartment’s location, size, and condition. In buildings that have undergone extensive renovation, the minimum price is approximately 350,000 NIS.

Is the apartment registered in the Land Registry under the buyer's name?

Yes, the registration serves as legal proof of ownership of the property and guarantees the owner’s rights.

Useful Information

1. Full registration with the Land Registry

Ownership of the property in Greece belongs solely to the investor, and the apartment is registered in their name with the Greek Land Registry.

2. Proximity to Israel

Just a two-hour flight from Israel

3. A government that encourages foreign investors

Local regulations that protect investors. In Greece, the purchase tax is low—only 3.09%, regardless of the number of properties—and there is an exemption from capital gains tax (on profits from the sale of an apartment). In addition, there is an international tax treaty between Greece and Israel that prevents double taxation.

4. Prices in Greece are still very attractive

Prices are on a steady upward trend, and according to expert forecasts, they are still far from reaching their full potential

5. A Growing Economy

Greece’s economy is one of the fastest-growing in the European Union. This growth is driven by rising private consumption, a booming tourism industry [32 million tourists in 2022], and the influx of foreign high-tech companies. The impact of foreign investment on the local economy and EU funding is also evident.

6. The projects are located in central areas

All of PALMO's projects are located in central areas of Greece and in the areas with the highest demand

7. High yield

Yields in Greece are considered among the highest in Europe, due to the fact that real estate prices remain very attractive compared to other countries. The Greek real estate market is on the rise as a result of growing demand.