Unabated Chinese interest
Unabated Chinese interest
12.11.2024
The interest of Chinese investors in the Greek real estate market remains undiminished, even if demand for residences through the Golden Visa program begins to decline in the coming months, due to the increase in the minimum amount of investment required for the residence permit.
According to market executives, the character of buyers is now changing and Greece will now begin to attract people of greater financial means, or even companies.
“I can assure you that new investments are coming from Chinese investors in the real estate market. They are scanning the country for opportunities. But these people are of a different nature than the typical Chinese investor we have seen until now, who was interested in obtaining a residence permit through the Golden Visa program. Instead of small investors, who collected 250,000 euros from relatives and friends to buy an apartment in Athens, investment companies are now preparing to come,” said Stavros Monemvasiotis, president of the Greek-Chinese Business Development Committee of the Athens Chamber of Commerce.
Speaking at the recent annual conference of the Athens-Attica Realtors Association, he said the property categories that interest Chinese investment companies are holiday homes and tourism investments in general, student housing, and logistics.
He added the emphasis is not exclusively on Attica, but also on large cities with students and good access. For example, cities such as Iraklio, Ioannina, Patra and Thessaloniki will be potential destinations for Chinese funds. In fact, sources indicates that a first investment of this nature is already under way in broader Ioannina. It is worth €15 million and has a tourism character.
As Monemvasiotis emphasized, “perhaps a great opportunity is created to leave the model of the small investor of €250,000 and to address investment companies in China, who are not interested in a small apartment in the center of Athens, but in a larger investment – e.g. other cities and destinations, where greater opportunities are also found, especially in the field of tourism.”
He also pointed out the great appeal of themed real estate developments – i.e. a complex with a specific theme
https://www.ekathimerini.com/economy/real-estate/1253288/unabated-chinese-interest/
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