In their insightful article, “Legal Challenges and Real Estate”authored by our Co Founder and Partner Nikolaos Koulocheris & our Partner Sonia Saranti, published in the Annual Special Edition “Real Estate and Infrastructure” of Kathimerini, they shed light on various matters.
The full article follows:
Legal services require a modern approach with innovative legal tools and corporate planning that transcends corporate boundaries.
The dynamic recovery of the Greek economy has put our country back on the investment map for investments in real estate. International investment schemes and private investors have turned their focus to Greece, emphasizing on tourism and the broader real estate market for various uses, including energy and infrastructure.
In this context, the five-year residence permit through the “Golden Visa” program has intensified the attraction of foreign investors in times of significant geopolitical instability, while continuing to attract interest despite the increase in the minimum investment amount. Similarly, there is significant interest in luxury residential properties in the mainland and the islands from both domestic and foreign individuals, adding value to the tourism product.
Regarding the evolution of the Greek real estate market, further prominence is expected, especially with innovative investments. In addition to tourist properties, there remains strong interest from investment schemes in multi-use properties, with an emphasis on logistics, commercial buildings, and office buildings. Moreover, despite the increased cost, there is an upward trend in residential construction, incorporating green and digital sustainability elements.
For investments with green, digital, innovative, and outward-looking characteristics, the credit system offers solutions that, among other things, utilize funds from the Recovery and Resilience Fund (RRF). According to the relevant framework, for financing an eligible project with RRF funds, the interested investor contributes a minimum of 20% own equity, up to 50% of the investment cost can be funded through RRF funds, while the remaining 30% is funded by credit institutions. The interest rate for the part of the investment cost funded by the RRF starts at an exceptionally attractive fixed rate of 0.35%.
In this demanding environment, legal services require a modern approach with innovative legal tools and corporate planning that transcends national boundaries. Recommended corporate structures and modern financial tools have now replaced traditional transactions and respond to an internationally changing environment.
- You can download the article in Greek below.
