![Golden Visa: What’s up with Israelis – The demand for real estate in Greece](https://www.ot.gr/wp-content/uploads/2023/01/ot_akinhta_goldenVisa.png)
Market players talk about an existing demand, but not to the extent presented, commenting on the interest of Israelis in buying real estate in Greece, with the aim of obtaining a Golden Visa.
By no means, as they say, is this a “frenzy” although they acknowledge that there has been movement to find properties in various areas since the start of the war in Israel. Although the applications are twice as many this year as last year, in absolute numbers they are still few of the total number of applications (amounting to 168 out of a total of over 6,000).
The phrase that captures the reality, according to the president of the Association of Realtors of Attica, Lefteris Potamianos, is that “the interest in placements in the Greek real estate market by Israeli funds and investors continues despite the war” while he does not share the enthusiasm that is being spread about Golden Visa.
He even underlines that the number of Israelis who obtain a Golden Visa in Greece remains relatively small, pointing out that despite the increase recorded in recent years, it is not enough to make a difference (161). Those who make the difference, he clarifies, are the Chinese (more than 7,500).
However, he characterizes the fact that the flow of funds from Israel remains unchanged as positive, emphasizing that so far no planned contracts have been cancelled. However, he estimates that a clear picture of the strengthening or reduction of Israeli interest in investing in Greek real estate and in Greek tourism due to the war will be available at the beginning of next year.
Thessaloniki
The co-founder and CEO of Georgakos & Parthenon Real Estate and president of the Hellenic-Serbian Chamber, Konstantinos Georgakos, is on the same wavelength, saying that the image given in the media about Israelis does not match the reality he experiences as a professional sector in the area of Thessaloniki.
Today’s picture with the Israelis, he notes, is reminiscent of the 2000s and the reports about “invasion of Russian investors in the real estate of Halkidiki, which were incorrect and untrue, as was proven after the fact by official data.
At the moment, he says, “there is a numbness, a wait-and-see attitude from his Israeli customers,” stressing that he does not know exactly what effect the war will have on their buying behavior.
He also points out that according to official data, the investments of Israelis in the Greek real estate market, despite the significant increase in recent years, are moving at low levels (According to data from the Bank of Greece, last year real estate purchases by Israelis totaled 88 million euros) .
Airbnb
On the other hand, Israelis’ demand for rental housing is increasing. According to the president of the Panhellenic Association of Property Managers, Andreas Chios, there are several requests to rent Airbnb-style properties from Israeli families seeking a safe haven in the midst of war.
Greece, as he says, offers them the security they are looking for and at the same time they feel it fits their culture. He even points out that lease contracts have already been signed for apartments in the Southern Suburbs of Attica, while some Israelis have also expressed interest in buying a home and are asking the brokers to present them with proposals.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019