Real estate on some Greek islands is doing very well.
A year and a half ago, I ticked the bottom with this video on Lesvos/Lesbos Island in Greece. Angelina, who runs a real estate agency in Greece as well, invited me to check out the market there.
Since then, the market has picked up and these Greek islands are being gradually transformed by an unlikely source: Turkish tourism.
Turkish tourists can now get a special visa for these Greek islands. Before, they needed to get a full-on Schengen visa, which is very bureaucratic, slow, and with high rejection rates.
Now they just need to pay €60 online and they are allowed to jump on a ferry (or direct flight from Istanbul) to go enjoy these Greek islands that have become much more affordable than Turkey, not just from a real estate point of view, but also from a food & drinks perspective.
Needless to say, Turkish tourism on Lesvos, where Angelina has her agency, is absolutely booming.
Real estate investors, restaurant owners, shop owners, etc are all very happy. It would appear that this scheme will be extended into 2025.
It’s not just Turks that like this island. Traditionally Lesvos has been a destination for Scandinavians, many of whom live full-time or part-time on the island. More recently there has been a flood of Israeli money coming to the island, so much so that there will soon be direct flights between Tel Aviv and Lesbos.
Real estate on Lesvos Island is still very cheap, and the rental yields are attractive. If you are interested in such an investment or lifestyle play, feel free to get in touch with Angelina.
Just please understand that liquidity is low on the island. Selling takes a while.
To a World of Opportunities,
The Wandering Investor.
Other articles on Greece:
- Invest in Lesvos / Lesbos real estate in Greece
- The Greece Golden Visa just became much more expensive
Other ways to get Golden Visas and Citizenships by Investment:
- High ROI Real Estate for investing in the Greece Golden Visa
- Fastest way to get Permanent Residency in Malta
- Be careful when you buy a passport in the Caribbean
- Best Deal for the Citizenship by Investment in Turkey
- How to obtain Vanuatu Citizenship by Investment
- Buy affordable real estate to obtain the Egyptian citizenship by Investment
- Saint Lucia Citizenship by Investment
- St Kitts & Nevis Citizenship by Investment
- BREAKING NEWS on the Egypt Citizenship by Investment: all Real Estate now allowed
If you want to read more such articles on other real estate markets in the world, go to the bottom of my International Real Estate Services page.
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