Is it a Good Time to Buy Property in Greece? - Definately, Yes!

Tax Advantage for non-Greek Retirees:

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The Greek government issued a new tax regulation to be applied from the tax year 2020 and it involves individuals earning pension income arising from outside Greece. Therefore, non-Greek pensioners that move their physical residence to Greece and become tax residents can benefit from a 7% flat tax rate on their income acquired abroad as long as they spend more than half the year in Greece.  

You are required not to be a tax resident of Greece in the previous five years. Furthermore, your country of origin must have a Double Taxation Agreement with Greece.

This started to impact real estate markets in popular Greek islands, where non-Greek pensioners are keen to live in and enjoy the good weather. We observe increasing interest for Crete and Corfu, as well as some of the Cyclades islands.

Tax break for Digital nomads: 

The Greek government is working on a special tax break and visa terms for Digital Nomads. However, the details are still unclear as of the first half of 2021.

It is rumored that self-employed ex-pats will have a 50% tax break from their income tax if they choose to move to and live in Greece.  The scheme will possibly provide a tax break for the first seven years of residency. 

The pandemic made remote working a reality. This initiative will particularly attract attention to Athens, a city with metropolitan vibes that also offers easy access to beaches. It also offers a low cost of living for a European capital.  The 5G internet roll-out in 2021 will possibly play a significant role in attracting digital nomads to Athens.  

Contact me right away to talk! 

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