Investing in Real Estate in Greece, Cyprus, and Portugal is Better Value for Money

Investing in real estate in Greece, Cyprus, and Portugal is better value for money than India and gives you PR too. Do you know how?

Real estate investment is a popular way for investors to grow their wealth and gain residency or citizenship in a foreign country. In recent years, Greece, Cyprus, and Portugal have become increasingly popular destinations for real estate investment, offering better value for money and the added benefit of residency or citizenship by investment programs. In this blog, we will discuss why investing in real estate in Greece, Cyprus, and Portugal is a better value for money than India and how it can provide investors with the opportunity to obtain residency or citizenship.

 

Residency or citizenship by investment programs has become attractive for investors seeking residency or citizenship in a foreign country. These programs allow investors to obtain permanent residency or citizenship by investing in the country. One of the main ways to get residency or citizenship through investment is by purchasing real estate.

 

Greece, Cyprus, and Portugal are among the European countries that offer residency or citizenship through investment programs. These programs provide investors with several benefits, including visa-free travel to other countries, access to healthcare and education, and the ability to live and work in the country.

 

Benefits of living in Greece, Cyprus, and Portugal

1. Mediterranean Climate: Greece, Cyprus, and Portugal have a Mediterranean climate characterised by mild winters and warm summers. This favourable weather allows for year-round outdoor activities, whether enjoying the stunning beaches, exploring ancient ruins, or dining alfresco at local cafes and restaurants.
2. Natural Beauty and Beaches: These countries boast breathtaking natural landscapes and picturesque coastlines. From the crystal-clear waters of the Greek islands to the rugged cliffs of Cyprus and the golden beaches of Portugal’s Algarve region, residents can immerse themselves in stunning surroundings and enjoy various outdoor activities such as swimming, hiking, and watersports.
3. Rich Cultural Heritage: Greece, Cyprus, and Portugal have deep historical and cultural roots, each offering a wealth of UNESCO World Heritage Sites, ancient ruins, and architectural marvels. Residents can explore iconic landmarks, museums, and vibrant local traditions, contributing to a culturally enriching experience.
4. Gastronomy: The culinary scenes in Greece, Cyprus, and Portugal are renowned for their delicious and diverse cuisines. From fresh seafood and flavorful Mediterranean dishes to traditional specialities and world-class wines, residents can enjoy a gastronomic journey that satisfies all tastes.
5. Affordable Living Costs: Compared to many other European countries, Greece, Cyprus, and Portugal offer a more affordable cost of living. Housing, healthcare, transportation, and daily expenses are generally more affordable, allowing residents to maintain a comfortable lifestyle without excessive financial strain.
6. Safety and Security: Greece, Cyprus, and Portugal are considered safe countries to live in, with low crime rates and a strong focus on public safety. You can enjoy a sense of security and tranquillity, which is particularly appealing for families and retirees.
7. Healthcare Services: These countries have well-developed healthcare systems, providing residents access to quality medical services. Public and private healthcare facilities are readily available, ensuring that residents receive proper healthcare and have peace of mind knowing they are well cared for.
8. Outdoor and Recreational Activities: The natural landscapes and pleasant climates in Greece, Cyprus, and Portugal offer abundant opportunities for outdoor activities. Residents can engage in diverse recreational pursuits, from hiking in the mountains, exploring national parks, and enjoying water sports to golfing, sailing, and attending cultural festivals.
9. Friendly and Welcoming Communities: Greek, Cypriot, and Portuguese people are known for their friendly nature and warm hospitality. Expatriates and newcomers often find it easy to integrate into the local communities, forming meaningful connections and building a support network.
10. Proximity to Europe and Travel Opportunities: Living in Greece, Cyprus, and Portugal provide convenient access to other European destinations. Residents can easily explore neighboring countries, experience diverse cultures, and embark on exciting travel adventures within the European continent.

 

Why Investing in Greece, Cyprus, and Portugal is a better value for money than India?

While India offers excellent investment opportunities in real estate, investing in Greece, Cyprus, and Portugal is a better value for money for several reasons:

1. Lower Property Prices: The property prices in Greece, Cyprus, and Portugal are relatively low compared to India. This means that investors can purchase high-quality real estate properties in these countries at a lower cost, which provides a higher return on investment (ROI).
2. Higher Rental Yields: The rental yields in Greece, Cyprus, and Portugal are higher compared to India. This means that investors can generate higher income from their real estate investment properties in these countries.
3. Lower Taxes: Greece, Cyprus, and Portugal offer lower taxes than India, meaning investors can save on taxes and increase their ROI.
4. Easier Investment Process: Investing in Greece, Cyprus, and Portugal in real estate is easier than investing in India. The investment process is straightforward, and the legal system is reliable and transparent.
5. More Stable Currency: Greece, Cyprus, and Portugal’s currencies are more stable than the Indian rupee. This means that investors can avoid currency risks and protect their investments.

 

Advantages of investing in real estate in Greece, Cyprus, and Portugal

One of the main advantages of investing in real estate in Greece, Cyprus, and Portugal is the lower property prices in these countries compared to India. According to a report by Knight Frank, the average property price per square meter in India is around $2,200, while in Greece, Cyprus, and Portugal, it is around $1,200, $1,600, and $2,400, respectively. This means that investors can purchase high-quality real estate properties in these countries at a lower cost, providing a higher ROI.

 

Furthermore, the rental yields in Greece, Cyprus, and Portugal are higher compared to India. According to Global Property Guide, the rental yields in Athens, Greece, are around 6%, while in Mumbai, India, it is about 3%. Similarly, the rental yields in Limassol, Cyprus, are around 4%, while in Bangalore, India, it is around 3%. This means that investors can generate higher income from their real estate investment properties in these countries.

 

Investing in real estate in Greece, Cyprus, and Portugal offers a more straightforward investment process than in India. The legal systems in these countries are reliable and transparent, making the investment process clear and making it easier for foreign investors to invest in real estate in these countries.

 

Another advantage of investing in real estate in Greece, Cyprus, and Portugal is the residency or citizenship by investment programs offered by these countries. These programs allow investors to obtain residency or citizenship by making a particular investment in the country, usually purchasing real estate. In Greece, investors can obtain residency by investing a minimum of €250,000 in real estate, while in Cyprus, investors can get residency by investing €300,000. Portugal offers a citizenship-by-investment program, which requires a minimum investment of €500,000 in real estate.

 

Investing in real estate in Greece, Cyprus, and Portugal also allows investors to gain permanent residency. In Greece, investors can obtain permanent residency after five years of holding a residency permit, while in Cyprus, investors can get permanent residence after seven years.

 

 

Permanent Residency by Investment Programs in Greece, Cyprus, and Portugal

As mentioned earlier, Greece, Cyprus, and Portugal offer residency or citizenship through investment programs that make them even more attractive for real estate investors. These programs allow investors to obtain PR or citizenship by investing in the country. Let’s discuss the details of these programs:

1. Greece: Greece offers a residency by investment program, which requires investors to invest at least €250,000 in real estate. Investors can also apply for citizenship after seven years of residency. Also, you must spend about five years on the Golden visa to apply for citizenship in Greece.
2. Cyprus: Cyprus offers both residency and citizenship through investment programs. The residency program requires investors to invest at least €300,000 in real estate.
3. Portugal: Portugal offers a Golden Visa program, which requires investors to invest at least €500,000 in real estate. The program offers residency to investors and their families, and investors can apply for citizenship after five years of residency. Also, Portugal requires seven days a year for five years, after which you can move to PR or Citizenship. 

 

Upshot

In conclusion, investing in real estate in Greece, Cyprus, and Portugal is a better value for money than in India. These countries offer lower property prices, higher rental yields, an easier investment process, and the added benefit of residency or citizenship through investment programs.

 

Investors looking to gain residency or citizenship in a foreign country should consider investing in real estate in these countries. However, investors should go through the programs and policies of these countries and conduct thorough research and analysis before investing in any real estate market.

 

At IPPC Visas, we ensure you the best investment through transparent, hassle-free, and safe processes. IPPC Visas have worked in residency through investment for many years, providing its clients with the best deal possible and a smooth transaction. We ensure that you fulfil your Mediterranean dream.