In Greece’s urban areas, house prices rose by 9.32% during the year to Q3 2019, far higher than the previous year’s 2.35% growth and the highest annual increase in house prices since Q4 2006, according to the Bank of Greece. When adjusted for inflation, house prices increased by 9.39%. Quarter-on-quarter, house prices in urban areas were up 2.23% in Q3 2019 (3.46% in real terms).
This sharp improvement was also seen in the major cities:
- Athens led with an annual house price increase of 11.91% in Q3 2019 (11.99% in real terms), the capital’s best performance since Q2 2006. During the latest quarter, house prices rose by 2.21% (3.43% in real terms).
- In Thessaloniki, the country’s second largest city, house prices rose by 8.52% (8.59% in real terms) y-o-y in Q3 2019, a sharp improvement from last year’s 1.32% annual rise – the highest growth since Q2 2007. Quarter-on-quarter, prices increased by 0.7% (1.9% in real terms) in Q3 2019.
- In other cities (excluding Athens and Thessaloniki), house prices rose 6.87% (6.94% in real terms) during the year to Q3 2019, an improvement from y-o-y rise of 0.8% a year earlier. During the latest quarter, prices increased 2.5% (3.7% in real terms) in Q3 2019.
Low-Risk Country
Greece enjoys a stable democratic system and strong ties to key economies in Europe. It’s free of religious or regional political or economic risks related to Turkey or any other Middle Eastern country. On top of that, it is fairly easy to invest in Greece with the Euro still being their currency. 4. Skilled and Motivated Workforce.
Greeks especially the younger generations can compete with any nation when it comes to math, technology and internet savvy. Just visit Athens and join any of the masterminds or societies and you will understand what I am talking about.Talk to any modern Greek, you will be impressed by their energy, their drive, and level of understanding of a topic they represent.
source:8020investors
Top Travel Destination
No one can take this away from Greece! Greece is and will always remain one of the top travel destinations in the world. Whether Athens, the capital, with its amazing cultural and historical heritage or its numerous breath-taking islands – Greece has it all! Tourism has always been Greek’s main economic driver. As of 2018, Greece is back at the top of its game – at least in tourism.“The total contribution of travel and tourism to Greece’s GDP amounted to 35 billion euros in 2017 (19.7 percent of GDP) and is forecast to rise by 5.3 percent in 2018 and increase by 3.7 percent per annum to 52.8 billion euros (22.7 percent of GDP) in 2028.” No doubt, tourism will continue to play a key driver to power economic recovery and investment opportunities in Greece.
source:8020investors
Visit Greece, talk to the people on the ground, and enjoy the country!
To get a real picture of what is going on and the opportunities in Greek stocks and bonds I recommend to visit the country once a year.
Greece has an incredible history, culture, mind-blowingly beautiful islands and beaches, great food, etc etc. December is the best time to visit Athens and some of these amazing islands!
source:8020investors
