Best areas for real estate investment

Where to Buy in Athens – The Map You Need!

Like any city there are good places and bad places to buy in Athens.

Know Your Exit Strategy Before You Choose Where To Buy

It’s not just to do with the local economy but more to do with your exit strategy. Who do we see as the ultimate buyer of a given property? Local families? If so can they get credit? Foreign investors? If so do they need a Golden Visa or simply looking for yield?

We use Google Maps to Target Our Investments

We use a map overlay from Google maps to help our team on the ground understand our reasons for investing in the different parts of Athens. And the local team often disagree with us, but they only have local drilled down knowledge of the market, not a global vision of how the rest of the world sees a Greek recovery.

And that’s really important for us because almost entirely independent of the economic nonsense made worse by successive Greek Governments there’s a tourist industry in Athens that almost didn’t exist pre crash. Although ‘controlled’ like in many other cities and limited to 90 days per property, there are ways around the Airbnb rules in Athens that are legitimate and that allow an investor to obtain a year round rental from short term lets.

Every Investor Will Have Different Arguments About Where & Why…

That’s a viewpoint that is very different from that of the mainstream market of mums and dads buyers in Athens. But exit strategy and mitigating holding costs are important.

So by area we have different priorities, different kinds of deals we will and won’t do, and different appetite for risk.

Exactly Which Areas Are Best?

‘Best’ is subjective.

We’ll be starting a series of articles drilling down into each of the areas of Athens – the good, the bad and the ugly but for now here’s a copy of the map we use with areas marked out that are of interest to us.

On the map you’ll find some notes we made about each of the areas. Some of them overlap and some are really niche.

Athens Real Estate Syriza Elections 2019

2019 Greek Elections – What Does it Mean For Real Estate?

2019 is an an election years in Greece.

Why Does This Matter?

Elections in Greece are like a crazy free for all. After the current Government got into power by promising Greeks free stuff like money and taxes on the rich and saying no to the Germans, the Government did an immediate about turn and an literally rolled over for the EU.

Greeks have not forgotten this and the Government ruling party – uber left Syriza – has been involved in scandal after scandal involving corruption, incompetence and all the usual ills associated with left wing governments.

Sadly the opposition is the same old guard who messed up the Greek economy last time. Although it would be hard to see how much worse even the cause of the 2011 crisis was than the total mess the current Government have made of it.

Well as non Greeks we are mainly interested here in what the outcome of the next election might be in terms of how it affects us directly as property investors, foreigners in the country and the economy and property market in general.

So what is the good the bad and the ugly likely to look like after the 2019 Greek elections?

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