Professionals from Greece, Cyprus, Spain, Malta and Portugal
presented investment benefits offered by their countries and the contribution
of their business to a profitable investment, to a wide audience of
approximately 270 participants from more than 30 countries.
This year's InvestPro Dubai 2023 focused on practical
solutions for professionals in finance, wealth management, citizenship and
immigration, as well as international taxation. With topics including, inter
alia, buying off-plan property in Cyprus, banking services in Malta, investment
opportunities in Portugal and obtaining a golden visa from Greece, the
conference offered business advice, based on the knowledge of experienced
speakers.
A considerable number of participants expressed particular
interest in the Greek golden visa program, which was presented by Mr. Andreas
Santis, director of Gate Greece Properties. As he noted, Greece provides a
number of practical benefits. “The climate, the lifestyle, the safety and the language
and tradition are well-known elements of the Greek culture. Moreover, Greece
offers infrastructure, low cost of living, education and investment
opportunities." And with the golden visa, it offers additional free access
to the Schengen area.
The advantages of the Greek market were also emphasized by
Ms. Elena Shiapani, CEO of MIBS Group, a real estate construction and
management company, operating in Greece. "Beyond the undeniable natural
beauty and the diversity of destinations, Greece is currently one of the most
attractive countries in the European real estate market."
At the same time, the announced cancelation of the Portuguese golden visa program, through the purchase of property, is expected to takes a competitive market out of play.
But the investment benefits of Greece do not stop there, as, according to Mr.
Santis, the anticipated changes to the Greek golden visacan also offer the
possibility of increasing the resale value of certain properties.
"If you buy a property in the areas where the property
value requirement for obtaining a golden visa is scheduled to rise to €500,000
after the end of April 2023, it is possible to resell your property at a profit
of 5-10% on the original price." And that's because, according to him,
values in those areas are meant to go up after the changes applied to the
golden visa program. "However, maintaining any property is mandatory to
maintain the Greek visa. Therefore, the interested party should proceed with
the purchase of a new property - possibly in another area - before completing
the sale of the previous one", he noted.
In general, Greece is an extremely well-known destination in
the Middle East. And this is because, according to Ms. Shiapani, real estate
prices and the cost of living in our country are among the lowest in the EU,
while the Golden Visa program itself is the most affordable and amongst the
most privileged in the EU. At the same time, the cultural proximity of our
country to the markets of the Middle East also plays an important role.
As for the choices of foreign investors, they depend on the
client's needs, as she states. "MIBS Group has a wide range of properties.
Most of the requests we receive from foreign clients concern 1–2-bedroom
properties in Athens, as these can offer very good returns."
According to the Greek participation, events such as
InvestPro, which focus on the presentation of international markets, can be a vital tool for the promotion of the Greek
market in areas that have available capital and demonstrate interest to invest in
our country.
"We believe that the Greek real estate market has great development
prospects, as it is an attractive investment destination, in addition to the proximity
and the traditional ties we share with the Middle East. Furthermore, as the Greek
economy and the Greek Real Estate become more extroverted, the interest of customers
and partners will certainly increase" concluded Ms. Shiapani, emphasizing
the importance of a holistic approach to our country’s promotion.
