Sharon and Shiran from Haifa arrived in Palermo with practical experience in the real estate world. Sharon is self-employed in the restaurant industry and Shiran is an engineer, and both have prior experience in real estate investments in Israel. This time, they wanted to explore a different option: an investment in Greece that would offer a different financial structure, a plan tailored to their capabilities, and comprehensive support to handle the local process.
A past experience that changed the way I look at things
Sharon and Shiran didn’t jump into their first deal. The experience they gained in Israel allowed them to explore the possibility in Greece, knowing what it takes to purchase a property, raise equity, secure financing, and manage the property after the purchase.
They knew that the price of the apartment was only part of the picture. It was important to them to understand the total commitment involved, which rental model would suit them, who would handle the process, and what the investment would look like while they were in Israel and the property was in Greece.
That previous experience made the conversation with Palmo more focused. Instead of starting with general explanations about real estate, we were able to move on to comparing options and developing a plan tailored to the stage they’re at.
What led them to consider investing in Greece?
The comparison they made between Israel and Greece highlighted the difference in the structure of the transaction. In Israel, they were familiar with a situation that required a high amount of equity alongside a significant commitment to financing. In contrast,when investing in real estate in Greece, they found an opportunity to enter into a transaction under different terms and acquire a property at a price that better suited their goals.
For Sharon and Shiran, the difference wasn't just about the purchase price. They also considered the potential income from the property, the amount of financing, the ongoing expenses, and the level of involvement required of them after the purchase was completed.
The opportunity to expand their real estate activities beyond the Israeli market gave them a new direction. Instead of extending the same strategy they were already familiar with, they explored a different market with distinct characteristics and opportunities.
A relationship that began on social media
Sharon and Shiran’s collaboration with Palmo began after they were exposed to the company’s social media activity. The content piqued their interest, but the decision to move forward was made after a face-to-face meeting where they were able to explore the various projects and options in greater depth.
What stood out to them during the meeting was the way the information was presented. Instead of being presented with a single proposal as a predetermined course of action, they were shown several projects and the pros and cons of each option.
The conversation also included a discussion of the differences between various rental models. Sharon and Shiran examined the implications of short-term versus long-term rentals, and how each model aligned with their expectations for the property.
An investment plan tailored to their needs
After reviewing the options, a plan was developed for Sharon and Shiran that took into account their financial capabilities, their goals, and the level of involvement they desired.
Customization was a key element of the process. Rather than choosing a property simply because it was available, they wanted to understand how it fit into their expansion plan and which model could provide them with the right balance of income, management, and holding horizon.
Their experience in Israel enabled them to ask precise questions, while Palmo’s familiarity with the Greek market made it possible to link those questions to the opportunities available on the ground.
Transparency regarding both the advantages and the disadvantages
Sharon and Shiran were particularly impressed by the transparency that characterized the project review. Each option was presented to them in a way that allowed them to understand not only its advantages, but also its differences, characteristics, and operational implications.
From their perspective, transparency helped make the prospect of investing in another country a clearer process. The more they learned about the projects, the rental models, and the expected stages, the better they were able to make a decision that aligned with their experience and aspirations.
The ability to have an open conversation and explore various options laid the foundation for a program that was not based on a one-size-fits-all solution, but rather on tailoring the approach to the investors themselves.
An organization that handled local bureaucratic matters
One of the main concerns when investing in real estate in another country is the need to navigate an unfamiliar system: documents, contracts, professionals, legal processes, and dealing with local authorities.
Sharon and Shiran were looking for a way to move forward without having to become the project managers in Greece themselves. Palmo Rich’s support structure handled the technical and legal aspects for them, allowing them to focus on decision-making.
Streamlining the bureaucracy made the process more accessible. Instead of having to locate and coordinate with multiple parties separately, they were provided with a single point of contact that guided them through the transaction and remained available even after it was signed.
Support and Updates During Construction
The relationship with Palmo continued throughout the construction phases. Sharon and Shiran received updates on the project’s progress and knew they had someone to turn to whenever they wanted information or an answer.
For experienced investors, post-signing service is a key test. Sharon and Shiran appreciated the responsiveness and the ability to stay connected to the process even while the work itself is being carried out in Greece.
The combination of a tailored plan, assistance with bureaucratic procedures, and ongoing communication gave them the peace of mind they were looking for when investing outside of Israel.
What can we learn from Sharon and Shiran's investment story?
The story of Sharon and Shiran shows that even investors who are already familiar with the Israeli market can find value in reevaluating their options. Their previous experience did not cause them to stick to the familiar path, but rather helped them compare the two investment environments more accurately.
For them, the move to Greece was not just a move from one country to another. It involved choosing a different business structure, exploring various leasing models, and outsourcing a large portion of their local operations to a professional service provider.
The decision was based on a combination of cost-effectiveness, customization, and ongoing support throughout the process.
Questions and Answers
What experience did Sharon and Shiran have before investing in Greece?
They had already invested in real estate in Israel and were familiar with what it meant to purchase, finance, and own a property.
What options did they consider?
Sharon and Shiran reviewed a number of short-term and long-term rental projects and models before a customized investment plan was developed for them.
What was important to them during the process?
Transparency, a comprehensive presentation of the options, handling of bureaucratic procedures, and availability and updates throughout the construction phases.
Why did they choose to invest in Greece?
In Greece, they found an investment opportunity with a structure that was better suited to their capabilities, objectives, and investment plan.
Would you like to compare investing in Israel with an investment opportunity in Greece?
Sharon and Shiran came into the process with prior experience and wanted to explore their options in a practical manner. By comparing markets, projects, and rental models, we were able to develop a plan tailored to their needs.
Read about how to analyze an overseas real estate transaction and learn about Palmo’s projects in Greece.
