GREECE RISES TO THE TOP OF RETIREMENT LIST

12.12.17

Greece is rising up the ranks of the best countries for retirement - due to its comfortable climate and a wide array of property price options.

When it comes to retirement, Spain, Portugal and Malta are usually among the favourites for those looking for a change of pace in their golden years. But now, as the nation emerges slowly from its economic crisis, Greece has been shunted up the list.

Low property prices is one of the country’s strongest advantages when compared to others in Europe. The real estate market in Greece is one of the last European markets where prices have not increased since 2008, meaning property in Greece is cheaper than most of its rivals.

 It is about a quarter cheaper than in Vietnam, a third cheaper than in Portugal and almost twice cheaper than Spain, Thailand and Malta. The situation is the same in the rental market, as renting a one-bedroom apartment in central Athens will set you back around E270 a month while in Spain you could pay E580 a month. As such, property investors get larger, higher-quality properties for the price in Greece than in most other European or Asian cities.

Greece also offers property buyers its residence-for-investment programme, where investors can get a residence permit when buying one or more properties for at least €250,000. The main applicant’s spouse, their parents and children are also eligible for temporary residence.

Residence permits can be extended every five years. Between 2013 and late September 2017, 2,014 residence permits were granted under the programme, with 388 going to Russian nationals.

“Greece is an incredibly attractive and popular destination in Europe and provides one of the best visa programs currently available,” says Katerina Katopis, Director, Dolphin Capital Partners. “At Dolphin Capital, we provide investors with the opportunity to purchase their golden visas though our developments in Greece, including The Aman Villas at Amanzoe, a collection of exclusive luxury villas situated around the Aman resort in the Peloponnese.

“Golden visa holders will have the opportunity to enjoy the benefits of residing in an EU-member state by investing in a property within arguably Greece's most exclusive residential development.”

In addition to this, heathcare benefits for the older population are enviable, as  Greece is one of the leaders in health indicators in the World Health Organization (WHO) European region, with an average life expectancy that higher than in most European countries.

According to the latest WHO data, the air in Greece is cleaner than in the majority of countries popular for retirement and the nation Greece has the highest number of medical practitioners per capita in Europe. When added to the warm climate – as the temperature rarely falls below 10 °C in winter and averages 26–29°C in summer – and more than 450 Blue Flag beaches, it is easy to see why Greece’s property market is becoming so hot for retirees.

The Aman Villas at Amanzoe. Photo by Dolphin Capital

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