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Invest in Lesvos / Lesbos real estate in Greece

lesbos island village by the sea

Why choose Lesvos / Lesbos island for your Real Estate investment in Greece?

 

  • Some of the most affordable real estate in all of Greece. Ruins with sea views can be had for as little as €25,000.
  • Very decent capitalization rates or net rental yields of 7% are achievable if you invest in properties in the small towns with a lot of tourists and snowbirds from Northern Europe.
  • €300,000 is enough to get you a nice plot with a brand new villa. Amazing lifestyle.
  • Northern Europeans are moving down to Lesvos in droves for a better lifestyle, affordability, and tax incentives.
  • Turkey is a 45 minute boat ride away. Tourism from Turkey is booming as Lesvos has become more affordable than Turkey.
  • You just need to be aware that the process for non-EU people to buy real estate in Greece takes an extra 7 months as it is coastal property right on the border with Turkey and requires extra approval from the Greek authorities.
  • Real estate in Lesvos Island is a conservative investment at low valuations with very decent cashflow for those who are ok with euro exposure.
  • Just be aware of the low liquidity nature of the market. Selling is not easy.

 

Tourism from Turkey is absolutely booming on Lesvos

Greece has granted Turks a special 7-day express visa to visit 5 Greek islands close to Turkey. This is an absolute game changer for these islands. Why?

  • Turkey is a massive market of 80 million people.
  • These islands are now the only place in the European Union that Turks can visit without a full-on Schengen visa. This is a huge deal as Schengen visas are hard to obtain.
  • The cost of living on these Greek islands is now lower than on the Turkish riviera, which means a flood of Turks coming over for a cheaper vacation.
  • Turkish social media is full of influencers visiting the Greek islands recommending them as a great destination.
  • Lesvos is experiencing a boom in tourism income, which is not yet reflected in property prices.

People often failt to appreciate how close Lesvos / Lesbos is from mainland Turkey. It is a mere one hour ferry away from the closest Turkish port, and 2.5 hours away from Izmir, Turkey’s third largest city. This is a massive market for Airbnbs on the island.

However investors must be cognizant of the constant geopolitical issues in this part of the world. This easy, special visa for Turks could be removed in any bout of tensions between the neighbours.

Video case study of various real estate investments on Lesbos / Lesvos Island

This video was made when Lesvos / Lesbos real estate was still a good option for the Golden Visa, but things have changed. To get a Golden Visa through Lesvos real estate, you must now buy a historical building or ruin of minimum €250,000 and get it renovated.

You can then rent it out long term (though the market is weak) or use it yourself. Short term rentals are now allowed anymore for Golden Visa purchases.

However if you invest without the Golden Visa in mind, you can absolutely rent out on Airbnb.

https://youtu.be/OhkOxIVZCDc

Get in touch with Angelina to invest in Lesbos / Lesvos Real Estate and maybe get a Greek Golden Visa

Other ways to get Golden Visas and Citizenships by Investment: