Real Estate Greece - Israelis have very strong presence

Overview

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Real Estate Greece - Israelis have very strong presence
## Overview
In recent months, the Real Estate Greece market has witnessed a significant surge in investment from Israeli individuals and companies. A new property management firm owned by Israeli entities has been registered in the General Commercial Registry, marking a notable trend in the industry. According to Greek Exclusive Properties agency, Israelis have established a dominant presence among property buyers in Real Estate Greece, investing in a diverse range of properties across the country.

## Investment Trends
The investment portfolio of Israeli buyers in Real Estate Greece is quite extensive, encompassing apartments in central Athens, luxury residences in high-value seaside suburbs like Voula and Vouliagmeni, and hotels in central Athens and the Aegean islands. Additionally, they offer fully serviced apartments in Athens and other areas, catering to the growing demand for luxury accommodations. This widespread investment activity underscores the confidence of Israeli investors in the potential of Real Estate Greece.

## Golden Visa Applications
The interest in Real Estate Greece is also reflected in the rising number of applications for Golden Visas from property investors. These applications are expected to increase significantly, with the Chinese, who previously accounted for 90% of Golden Visas, likely to see their share drop to around 50%. Israelis, who currently hold 10th place, are expected to surpass the Turks, who are currently second, and become a major force in the Golden Visa market. This shift in demographics is anticipated to occur once the approximately 15,000 pending applications are processed.

## Large-Scale Investments
Israeli investment activity in Real Estate Greece is not limited to individual properties. Entire buildings are being acquired and transformed into fully serviced apartments, which are then sold to other investors or apartment owners, mostly Israeli. A notable example is the former Keranis cigarette-making factory in Piraeus, which was sold to Israeli-owned Golden Horizon Athens Investment IKE. The building is being redeveloped by Canada's Mercan Group into a mixed-use project, primarily residential, known as Keranis Residences. This development will feature 408 luxury residences, showcasing the scale and ambition of Israeli investments in Real Estate Greece.

## Future Prospects
The investment activity of Israeli individuals in Real Estate Greece is estimated to exceed 500 million annually, with expectations that this figure will double to 1 billion in the near future. This significant influx of capital is expected to have a substantial impact on the local economy and property market. The mayor of the Vari-Voula-Vouliagmeni municipality, Grigoris Konstantellos, notes that Israelis are not only buying properties in the area but also acquiring office space to relocate their businesses. This migration of businesses is likely to create new opportunities for economic growth and development in the region.

## Conclusion
The strong presence of Israeli investors in Real Estate Greece is a significant trend that is likely to shape the country's property market in the years to come. With their diverse investment portfolio and large-scale projects, Israeli buyers are poised to play a major role in the growth and development of Real Estate Greece. As the demand for Golden Visas continues to rise and investment activity reaches new heights, it will be interesting to see how this trend evolves and what opportunities it presents for the Greek economy and property market.

Napoleontos Zerva, Glifada Athens

Athens, Santorini, Mykonos, Crete, Paros, Corfu, Naxos

+306975629519

info@greekexclusiveproperties.com

ktaralas@msn.com