According to Proven Partners, specialists in luxury real estate marketing, Greece is ranked amongst 20 popular destinations based on their affordability for UK second-home investors and given the data from a recent report by Greek City Times.
Greece is one of the best destinations for UK buyers seeking a second home. Proven Partners released a list of the most affordable destinations for UK second-home investors, including factors like property prices, taxes, fine-dining prices, premium car hire prices, flight costs (assuming you are flying from the UK), and potential Airbnb revenue.
The study is based on data from 3600 properties on JamesEdition, and each country received an affordability score out of 10. Greece ranks in the top five list for buyers of luxury second homes, scoring 8.6.
Among the countries listed above, Greece has one of the highest nightly revenues for Airbnb rentals, at 765 euros in high season. This is more than any other country in the top 10, apart from the UAE. Compared to the number one on the list, Ireland, the nightly revenue from Airbnb rentals in Greece is more than double.
Regarding average prices for luxury waterfront properties, Greece also has some of the lowest prices in the table – second only to Ireland and (just barely) Turkey.
The cost of living is fairly low in Greece compared to the rest of Europe. Even major cities are affordable, like Athens and Thessaloniki, compared to Paris, Rome, or Amsterdam. This is especially true for rent. Combined with rising real estate prices in Greece, real estate purchases can make you a big profit if you choose to rent out your property. Especially in Athens and the Greek islands, it is possible to get a steady income.
It should be noted that the fine dining prices in this chart are likely not indicative of every area of Greece. Some of the best and tastiest tavernas can be enjoyed for significantly less than 200 euros.
(source: elxis)
