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Question for those who have apartments in Greece
Is it profitable to buy an apartment or apartments in Greece near the sea (it doesn’t matter where regionally, the question is of general interest), and then rent it out? I often see ads here that sell their property. What's the payback?
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Answers • 11
I'm interested in something else. why the hell did Zhitomir end up in Russia in the author's profile?
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answered 7 years ago
I considered this question for myself a couple of years ago. If purely as a business, it is not profitable. Buying property in many European countries (including Greece) can generally only be considered as a long-term investment. That is, such an event will not pay off very soon. Another thing is if you take it for yourself, and in your absence you rent it out as additional income. Especially for Greece, you need to take into account the duration of the season, the amount of tax, a communal apartment, etc. And if you entrust the process of delivery to the management company, then there is also a commission. In my opinion, it makes sense to buy under good mortgage conditions, so that the rental income pays off payments to the bank, and the apartment itself recaptured its mortgage in 15 years. But it's still questionable
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answered 7 years ago
And you need to know the real estate market, otherwise you can buy something that is problematic for rent ...
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answered 7 years ago
Aliki100, I would like to buy for myself, but in the absence of someone to take. But for myself, in what sense... We won't hang around there all summer. Two weeks to rest in Greece - will be with his head. That is, apartments will be rented both in seasonal and non-seasonal times. And just there is an opportunity to buy real estate immediately, not in a mortgage. While there is such a moment, I want to not miss it.
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answered 7 years ago
The man above answered you correctly. And we have the same plan spinning in our heads for many years. But in order to implement it, you need to thoroughly study the real estate market. That is, without consulting specialists at random, you don’t need to buy anything. If you want to buy an apartment, as you write, to relax there, and then rent it out, then this is the surest option! How much such a thing will pay off, I don’t know, because it’s still unknown what exactly you are going to take and for how much. And of course, you still need to advertise your property somehow. That's why you see that people themselves often write ads about renting their homes. And I'm sure they do it in many tourist sites. Those who do not want to mess with it for so long, then cooperate with companies that will do it themselves. Take a look, for example, at the Grice Invest website http://www.greece-invest.ru There is an online chat. Ask there for more about your idea. Because telling on the fingers is one thing, but how is it in life ...
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answered 7 years ago
VivaRiva, I understand how tempting it is to have your own property on the “foreign azure coast”. Consult, find out, calculate... Believe me, owning some real estate abroad is not economically profitable. For example, I seriously considered buying an apartment in Prague, as I often came there. But having calculated everything, I decided that there are options for investing money much more profitable, and it is more profitable to rent housing for the time of arrival. In your absence, you yourself will not meet guests, clean up after check-out, solve problems of a communal nature that will inevitably arise, etc. The management company with which you will have to conclude an agreement will deal with all this and make money on your property. IMHO: If you come for two weeks, it is easier to choose the rental option. So less hemorrhoids and do not have to become attached to the same place. The main thing for you is not to buy yourself a headache
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answered 7 years ago
If you still decide to buy, then be sure to find out the amount of tax, utility bills and additional payments. Be prepared for the fact that a realtor, having seen “rose-colored glasses” on you, will try to sell you an investment object that is not attractive. The legality of the lease also needs to be checked. For example, in Spain, private traders are prohibited from renting out their property for short-term rent during the season, the fines are huge ...
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answered 7 years ago
