Real estate investment firms have long recognised that in an environment of high asset prices, ownership is not always the most effective investment strategy.

Is it a good time to buy real estate in Greece and is it a good long-term investment?


Right now you can buy apartments in Greece for $20K, renovate them for $5K and generate $1K per month (through Airbnb, not to locals). Here is the answer I provided in another similar question:

Apartments in Athens are dirt cheap (you can buy apartments for up to 20k). I realized this because two months ago I’ve been to Athens, and I payed 400€ for an apartment (one week). I came to the balcony and the first thing I see is that the apartment right in front of the one I was in, had a “for sale” tag on the window. Called em up, and asked them the price (I usually do that in countries I visit, just to get to know the market). It was 35K. I thought it was a mistake, opened my laptop and did a brief search. So many apartments came up for less than 20K it was like unreal.

Now, if I payed 400€ for one week (I actually squeezed the price a bit), that is 1600€ a month, which means almost 20K a year. Anything that yields 10% for me is awesome. This is more like 50% or something.

Bottomline: if you can do it in Greece, you can certainly do it in other places. Just find a stop where you get visitors all year long (90% of the markets are seasonal anyways, but get a solid well paying market) and run the numbers. It does not become different just because you rent to through Airbnb.

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