Development of the Real Estate Sector in Greece

The Rush to Real Estate in Halkidiki and Thessaloniki

Recently, these two destinations have emerged as prime and rewarding destinations for purchasing real estate abroad. Both Thessaloniki and Halkidiki currently serve as vibrant centers in terms of real estate activities, with a surge in apartment purchases in Thessaloniki and houses for sale in Greece on Halkidiki's coast. This is due to the combination of strategic location, diverse entertainment options, landscapes, proximity to the international airport, and booming tourism.

 Advanced Construction Activity

In this part of Northern Greece, at the heart of the second 'finger' of the Halkidiki peninsula, lies a rural town called Nikiti, which hosts tens of thousands of travelers during the tourist season. They are looking for a luxurious exclusive vacation destination to spend their holidays. This peaceful seaside town offers its visitors a true vacation experience against endless views of wild nature and deep blue sea landscapes.

The rising popularity of Nikiti as a vacation destination contributes to the significant interest in vacation apartments for sale in Greece, mainly in the Halkidiki area. The best example of this is the crazy construction activity taking place in the town lately. This means that very soon, the lands adjacent to the coastline will run out. This extraordinary construction boom brings with it an increasing amount of regional developments. So anyone looking for golden opportunities for apartments for sale in Greece should not miss this real estate wave happening right here and now.

The Benefits of Buying Houses for Sale in Greece by the Sea

So Why Buy Real Estate in Greece and Especially Villas in Halkidiki?

1. The views, the beaches, the culture - Halkidiki is home to some of the most beautiful beaches in the world. Nikiti's wide coastline has even won several awards (flags) due to its beauty and cleanliness. The clear sea waters, coves resembling small pools, and all the great amenities offered by the area all come together, allowing tourists a place that has everything for the ultimate vacation. For those looking to invest in a vacation home in Greece, this translates into high potential for short-term rentals and property value increases that are likely to be particularly profitable.

2.      Development - In the Halkidiki peninsula and especially in the Nikiti area, infrastructure improvements and environmental developments are constantly taking place. Whether it's improved transport links or upgraded services enhancing accessibility for the convenience of residents. Real estate areas in Greece that are under development, like everywhere else, attract residents, tourists, and investors because they create a positive and fertile environment for asset acquisitions and real estate activity movement, whether it's apartments for sale in Greece for investment or vacation.

3.      Greek festive atmosphere and local culture. The cultural heritage of Thessaloniki and the rich history apparent in every corner of Halkidiki bring diverse proposals for rare and enjoyable entertainment. Owning a vacation home in Greece or apartments for sale in Greece in the Halkidiki real estate area allows you to experience local traditions, annual festivals, and the warm hospitality of the especially kind Greek neighbors.

4.      Advantage of growing tourism and economic stability. The strong growth occurring in Greece's economy is prominent in this part of the country, both in Thessaloniki and especially in Halkidiki due to their strong presence in the country's tourism sector. This sought-after area experiences a steady increase in the number of visitors. This indicates a promise of consistent demand for short-term rentals and excellent potential returns.

How the Real Estate Landscape in Greece Looks

When buying property abroad, even more so than at home, it is crucial to carefully examine deals and thoroughly investigate the market. Not knowing the area and market trends may create unexpected problems in the purchasing process or afterward, with receiving the property and failing to rent it out. Therefore, it's very important to approach the market of apartments for sale in Greece rationally and with thorough strategic planning. Here are our 6 tips for you before getting into a transaction:

1. Market research and target environment examination. Thorough market research is critical when buying a property, especially abroad. Learn the market in depth, including the rental demand and areas with growth potential. Here, the assistance of a reputable developer who knows the intended location can be significant for you to gain important insights not revealed during the initial tour and also to save you from the complicated process and, of course, a lot of money.

2. It's very important to visit and get a feel for the surrounding environment. What can help the most is to use the services of a professional specializing in the specific area and benefit from the professional knowledge and experience they have gained. Choosing the location is one of the most important aspects in the process of buying apartments for sale in Greece. Especially if it is a purchase for owning your private vacation home in Greece. It is very important that you like the area, that the access routes are not too complicated, and that you have everything you need around you for a perfect vacation.

3. If you intend to combine vacation with investment and rent out your vacation home when not in use, it's important to match the type of property to your target audience. It should be fully furnished, equipped, and prepared for hospitality according to the type of audience it addresses. Villas in Halkidiki, for example, are rented to an audience looking for a luxurious vacation close to the beach and quality entertainment areas. The furnishing and design of the property can significantly affect its rental potential and also its resale value.

4. Regulation - Stay updated on Greek real estate regulations, study the taxation laws thoroughly, and understand the legal requirements for ownership of properties for sale in Greece. Consult with local legal entities to ensure a smooth transaction while fulfilling all legal obligations and maximizing the potential return from the property.

5. Smart budgeting. Define your budget in advance and consider all additional purchase costs such as legal expenses, bureaucratic costs, maintenance expenses, and various taxes. A proper financial plan will help you make the right and personalized decisions for you.

6. Engage a management company. If you intend to buy villas in Halkidiki or any vacation apartments for sale in Greece - a management company can be a practical solution and a significant tool for you. A good and reliable property management company will ease off all topics of remote ownership. They will handle tenant management, maintenance, and all that's required to ensure a stress-free experience for you and your potential tenants.

7. Long-term vision - Buying houses for sale in Greece on the sea or in other sought-after areas constitutes worthwhile assets for long-term holding. Focus on the potential value of your property over time that can yield significant returns when sold in the future, while also generating you short-term profit from renting it out.

Tip - When purchasing property in Greece, it is crucial to use a real estate attorney specialized specifically in Greek real estate taxation. Every country has its laws and deductions, and expert advice can help you enjoy the full potential of your Greek deal.  

Conclusion

As is the nature of successful travel destinations - Thessaloniki and Halkidiki have recently become particularly sought-after hotspots for buying vacation real estate. Such locations, along with Greece's strong economic growth, create a rather fertile and comfortable environment for real estate purchases. The ongoing construction boom of Nikiti truly acts as an accelerator, and the entire region's real estate market carries within it an immense potential that remains untapped, especially for those seeking the enriched experience of owning a vacation home in Greece while exploiting a quality financial opportunity.

The Opportunity from Shoval Development

So for those of you looking for a reliable way to navigate the property buying process in Greece's top destinations - the long-established company in the field, with its rich project portfolio in the area, offers you very convincing opportunities to join the prestigious North Greece vacation home owners club. So don't let the opportunity slip away and contact the experts at Shoval Development today.

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