Property Knowledge Base

We promote properties for the golden visa market only. Our customers are foreign buyers, not familiar with laws and market trends in Greece. Our aim is to suggest properties that may be new or second hand but, in any case, they must be in “of the shelf” condition. Without legal, technical or other problems and in accordance with the building code & regulations.

As part of our A2Z package service, the property needs to be part of the residency project. It is important that the property’s condition does not cause problems or delays to the purchase process.

We promote properties that fulfill the following criteria:

  • Fair value
  • Problem-free
  • Easy to rent and keep rented
  • Easy to resell and make a good profit in the process

More than 90% of our property sales fit this model.

We also offer a variety of properties for customers with special requests, such as sea view flats or seafront villas. Or properties at specific locations, with special characteristics, for example, close to marinas, close to airports, with garden and swimming pool, etc.

Property rating scheme

All our properties are rated on the basis of our outstanding rating tool. See below the factors that are top priority:

Location

We rank properties based on how desirable their location is. Desirable does not necessarily mean upscale. It mainly refers to an area with established high demand or future potential. Moreover, we rank the exact spot where the property is located. We like properties facing a park. We don’t like narrow and dark streets.

Access

We give top marks if it is easy to reach. If there is public transportation nearby. It is definitely a bonus if the property is close to a metro station.

Condition of building

This applies mainly to older buildings. We offer top marks if it is aesthetically appealing, well maintained, with no visible damages, freshly painted etc. By contrast, we give low marks if the property is dirty or neglected, worn out over time and that shows.

Condition of surroundings

We place great emphasis on the general condition of the area around the property. Examples of possible problems to avoid are a deserted old ruined house across the street or a pile of garbage in front of the building or a rusty abandoned car etc.

Condition of flat

Top marks if it is presentable, clean, tidy, aesthetically appealing, well maintained, with no visible damages, freshly painted etc.

Income, rentable

Top marks if the flat comes with a high income from reliable tenants. Low marks if it not rentable (remote or low interest area).

Interior Layout

Top marks if the layout is practical, functional, easy to live in. Low marks for small bedrooms, long useless corridors, limited light (small windows), no wardrobes etc.

Definitions of property types

We separate the properties in seven basic categories:

1. Apartment

An apartment is a self-contained private residence, always part of a larger building. The apartment is individually owned, while the use of and access to common facilities such as hallways, heating system, elevators, swimming pool, exterior areas, are regulated and controlled by the association of owners. Building maintenance fees for expenses such as security and cleaning are split into shares proportional to the size of each apartment.

2. Apartment (entire floor)

Similar to the apartment except that it occupies an entire floor in a building. Also called floor–through apartment.

3. Studio Apartment

A studio apartment is a small apartment with bathroom that combines living room, bedroom and kitchenette into a single area. Studio apartments typically range from 20 to 40 square meters in size

4. Villa

A villa is a luxury house. It is freestanding and independent with a large landscaped garden and adequate distance from the nearest neighbor.
A villa has a minimum covered living space of 250 square meters and is constructed with high quality materials and fittings. It usually consists of two levels and a basement large enough to accommodate storage areas and parking space for two or more cars. Most villas are located in upscale neighborhoods.

5. Detached House

A detached house is an independently standing house surrounded by land, a stand-alone structure on a private lot. Detached houses consist of one or two levels of living space plus an underground space for storage and car parking.

6. Semi-Detached House (often called maisonette)

The primary feature of a Semi-Detached House as compared to a detached house is that it is attached to another comparable unit. The individual residence units in a Semi-Detached House share a common wall.

7. Cottage Style House

A cottage style house, usually of low to medium size, on one or two levels, could be a rural dwelling with traditional architectural features, made of stone and surrounded by a working farm or an orchard. A cottage style house is associated with comfort and minimalistic living.

(What About) Commercial properties?

Commercial real estate refers to property used exclusively for business purposes or that provides workspace rather than living space.

Commercial real estate refers to buildings intended to generate a profit, either from capital gains or rental income.

We mainly focus in four classes of commercial properties, depending on their function:

This category includes single-tenant properties and small professional office buildings.

Independent shops, single tenant retail buildings and small neighborhood shopping centers.

This is a housing classification where multiple separate units (usually residential flats) are contained within one building. Anything larger than a fourplex is considered commercial real estate.

Small-size hotel buildings (< 30 rooms) providing accommodation, meals, and other services. They may come with limited-service or full-service, i.e. concierge, room service and on-site restaurant. Hotel investments are offered with or without the operation.

We classify commercial properties separately from the residential properties primarily because investment criteria differ. Investors for Commercial properties look mainly at yields or returns on their investment.

Commercial real estate investors prefer long term contracts with reliable companies or retailers. Investing in commercial real estate requires more sophistication and investment funds than does residential real estate. The secret of success is to strike a balance between maximizing rents and minimizing vacancies and tenant turnover.

Commercial real estate investors invest considerably higher amounts than the minimum amount of 250,000€ required for the golden visa. They are aware of the risks and volatility of the market, factors that can affect their income and the resale value of their property. We constantly scan the market for commercial properties that generate high income (>5% gross ROI) and promise a healthy -midterm- capital appreciation.

Click here to contact us and learn more about our current offers in the commercial sector.

Geography

Greece consists of 13 administrative regions:

  1. Attica
  2. Central Greece
  3. Central Macedonia
  4. Crete
  5. Eastern Macedonia and Thrace
  6. Epirus
  7. Ionian Islands
  8. North Aegean
  9. Peloponnese
  10. South Aegean
  11. Thessaly
  12. Western Greece
  13. Western Macedonia
GreekResidency - Greece-Regions

Mainland Greece constitutes the southernmost part of the Balkan peninsula. The north of the country consists of the regions of Macedonia and Thrace. The mainland includes the regions of Epirus, Thessaly and Central Greece, where the region of Attica and the capital Athens are located.

Attica is the largest region with a population of 3.9 million. It incorporates the entire metropolitan area of Athens, the country’s capital and largest city.

This region is subdivided into eight subordinate regional units:
North Athens | West Athens | Central Athens | South Athens | West Attica | East Attica | Piraeus | Attica Islands (Aegina, Agistri, Kythira, Hydra, Poros, Salamis, Spetses).

Further south, the Peloponnese peninsula is connected to mainland Greece by the Isthmus of Corinth.

The majority of the beautiful Greek islands form part of the regions of Crete, the Ionian Islands, the North and South Aegean.

In total, Greek islands range from 3,000 to 6,000, a number that includes populated islands (228 islands) and uninhabited islands of various sizes. Greek islands account for about 20% of the country’s total territory.

The largest Greek island is Crete with an area of 8,336 sq. km (3,219 sq. mi) and a population of 650,000. Crete is the fifth-largest island in the Mediterranean Sea, after Sicily, Sardinia, Cyprus, and Corsica.

The Greek coastline measures 13,676 km (8,498 mi), the 11th largest on the planet (USA 19,924 km, China 14,500 km).  The Greek seacoast is justifiably considered one of the loveliest in the world, for its lacy coastline and its crystal-clear blue waters.