High ROI Real Estate for investing in the Greece Golden Visa
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- เผยแพร่เมื่อ 25 มิ.ย. 2024
- 🇬🇷 Get in touch with Angelina for Lesvos real estate and the Golden Visa in Greece: thewanderinginvestor.com/serv...
Now that the Portugal Golden Visa is officially a very bad deal, one of the most affordable options to get EU access is to invest in real estate in Greece through the golden visa. The minimum investment amount is €500,000 in Athens, the main cities and main islands. However it is possible to invest only €250,000 in small islands and still get the residency. The island of Lesbos or Lesvos is particluarly cheap, and offers very reasonable rental yields and cap rates for investors. We therefore looked at a few detailed case studies with my agent there.
00:00 Introduction
00:45 The situation in Greece
01:48 Migrants on Lesbos island
02:40 Real estate price crashed in Greece
04:30 Real estate investment in Lesbos case study #1
05:10 Target market interview of Swedish couple
07:50 Many Scandinavians moving down to Lesbos island
08:20 Case study #1 continued
17:17 Greek real estate has become a cash market
21:00 Greek investment property in Lesvos case study #2023
28:50 Foreign real estate investors on Lesvos island
30:55 Build a villa in Greece for the Greek Golden Visa
32:30 Buy a €25,000 Airbnb in Greece for the Greek Golden Visa case study #3 with occupancy rate figures
39:00 Who is investing in Greek real estate on Lesvos island right for?
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
🇬🇷 Get in touch with Angelina for Lesvos real estate and the Golden Visa in Greece: thewanderinginvestor.com/services/residency-and-citizenship-by-investment/invest-in-lesbos-real-estate-for-the-greek-golden-visa/
Good to see Angelina expanding her presence!
Great video and very instructive case study. Thank you for your good work and honest approach
Fascinating. Thanks for the video.
Clear, concise, and to the point. Love your vids.
Thank you. Spread the word.
Not spreading the word until I get there and buy :) How long will the deals last over there? I don't want to miss out @@TheWanderingInvestor
Wonderful and insightful video about investing in Lesvos Greece. Thank you so much Angelina, Estratos and Ladislas. Benjamin
Thank you Benjamin
Beautifull video and great houses
I glad to found this video!!
I always dreamed to have investment property in Greek with great cash flow for retirement. Thank you for the info.
Good job guys I loved to have a small place there.
The people there sound like fun people, the houses are cheap, and the drinks and food are cheap too!! That looks like a great place.
I love this place. I wish I were there.
Hello there! I am very happy to have found this video. I bought a ticket to Lesbos a week ago to do EXACTLY what you show here. My only concern was the lack of connections there. I am grateful for introducing Angelina. I sent her an e-mail provided under the video. I am looking forward to the next steps. Thank you for this video.
hello, I am also very excited to use this model and find a similar property. What has your experience been so far ? Did you hear back from Angelina ? Thanks, Brent in California
@@intramotus Hi, sorry for the late response. We bought a small house and starting the renovation with Angelina.
Amazing. Looking in to doing the same. Any updates?@@Izabela_S
Great video, thank you. It’s also a little sad because, once all the land is sold it will be a pile of concrete, no more beautiful open green spaces…
Diamond in the rough.
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very nice to see this 25k house yielding almost 10% in Lesbos. If you do some for the renovations on your own and manage it yourself, could be even netting around 20% a year, totally incredible!
Yes. The bigger ticket size is the reno work than the house itself 🙂
I have learned so much just by watching your video's. The perfect approach and explanation on how to look at a market as a whole. Not just blindly following what the mass but as a professional protecting and growing your Capital. Such an advisory service would cost a lot of money and you just give it for free. Respect for what you are doing here. And it gives me positive energy when you see how you are doing this with Full Passion and love for your Profession. Thanks so much for sharing and paying it forward, Respect✌👏
Thank you 🙏
Mind if I ask what mic you use? Also loved this. Looking at investing in Greece might even move there.
I didn’t use a mic for this one. I messed up 🙈
I saw you mentioned Albania in your video,with all the recent construction projects such as Durres and Vlora marina,do you think there is an investment opportunity there?
Excellent vidéo, thanks for sharing. I was wondering about the famous Greek plumbing. Do you typically install new pipes in these houses? Greek plumbing in old construction is probably the worst I’ve ever experienced.
These renovation prices include new piping yes
That’s horrible try it slowly :) Very interesting market although the language for me is hard to learn having few Grec friends, never been able to pick up, like Italien, latin. Beautiful and lovely homes, with golden visa it’s a thinking. Amazing info, thank you for your prof work. UK as a charm 😊 you chg my plans, love it, great team. I will.
Another excellent and creative and informative video, Ladislas. The pros and cons are so clear. What about the risk of social upheaval because of the economic troubles, plus the effective of the migrants?? So many hills and stairs, older folks would have trouble navigating, especially with the cobblestone streets
Definitely not a fan of the migrants, but as I said they do not make it to this part of the island. Social upheaval: no more than before. As for the hills and stairs old Europeans deal with them better than old North Americans
@@TheWanderingInvestor Seeing all those stairs and hilly streets reminded me exactly of what we find in the Caribbean. Definitely not to or lots of us, despite the extraordinary beauty of the island. What I was thinking about was the likelihood of general social unrest in Greece because of the economic situation, not to mention risks involving Turkey and Russia versus NATO in general.
@@TheWanderingInvestor By the way, how would Lesbos compare with Caribbean islands in terms of real estate advantages?
@@dovygoodguy1296 The worst has already taken place in Greece. From an economic point of view other European countries have more to fall. Greece is essentially a developing country again economically speaking.
As for potential conflict with Turkey, it’s a risk for sure. As are earthquakes.
@@dovygoodguy1296 you can’t compare the two. Incomparable.
you are very wrong about the PPP the average Greek is not poorer than the average Turk. The average Greek is way richer then an average turk it's just that you believe the fake stats that Erdogan is posting not the real life ones, you should visit the world Bank site to get your info and not site like wiki were anyone can post.
Maybe 2017 but avg Turk is definitely poorer than avg Greek forsure
The world has no need in Investigation like this, people suffer in time with investions like this. Yes, so this promotion of "golden sales & golden viza's" is gonna skyrocket the housing prizes and rents.
Hello. I think you are too optimistic in your high season income estimates. The real high season is only August, if in August a day costs 175 euros, then in July it is already 160 euros, and in June 150 or even lower.
What are the best islands for sailers in Greece that also have deals that would yield?
Amazing islands for sailing ⛵️ are Ioanian islands .. happy to help you on real estate properties 👍
I didn’t quite catch the comment on drinking water or why they were mentioning this to begin with? Also, does the renovation budget include AC and heat?
“Vodka” with a ukrainian accent. Not “water” 😉. Yes. The reno budgets include AC and heating.
I’m ready to leave the states now!!!
Fun video. But Fails to clarify to potential investors consideration of VAT purchase and taxes imposed on short term rentals which are tiered and substantial. 15%~45%.
from €0 - €12,000: the tax rate is 15% ● from €12,001 - €35,000: the tax rate is 35%, and ● above €35,001: the tax rate is 45%. All of which make net yields soft. FULL Disclosure is everything my wandering friend but I do like your videos. 🙏🏽
I do pre-income tax numbers for all my numbers because taxes change, people can use various structures, deductions, and for people from high tax countries with a double tax treaty agreement with Greece it typically does not matter.
Buying costs and taxes are included in the legal and notary fees.
@@TheWanderingInvestorthis makes sense. I know you believe Albania to be inferior to Greece but if we just take this idea of tax rates could we consider Albania to be a better investment option?
@@DJBILINGUAL prices shot up a lot in Albania in the past 3 years, though less than Montenegro. Prices seem spicy now. Greece has better momentum at this stage. I’d rather pay taxes on making money than paying little taxes on not making much money.
@@TheWanderingInvestor well said. I had no idea Albania shot up that much. It really feels like everywhere has though. I’m still soooo bitter I missed the boat on Montenegro I low key wanted to move there. Greece might not be a bad alternative though. Albania seems to have good financing options which in my opinion can be huge when trying to squeeze extra juice without having to use your own resources. Have you ever sniffed out Bucharest by chance?
@@DJBILINGUAL things change fast yes. Bucharest is decent. Still pretty cheap in the big scheme of things. I just feel there is more value in Budapest even though it’s a bit more expensive.
Hello. Well, at 16:44, when you calculate the Net yield of the first house, you forget to mention the tax on rental, whether it's Airbnb or not, so it is not exactly net yield yet, is it? You have to substact rental tax, which, if I'm correct skyrockets as high as 35% of the gross revenue (as they don't care about your intermediates) above 12 K€ per year. And that puts a big dent in your estimation...
I made a point of not discussing Greek taxes becase they depend on the structure you use, and change all the time.
@@TheWanderingInvestor Understood. In that case, is there a model allowing to avoid this heavy rental tax? (15% up to 12 K, then 35% above...). Because for an individual, as it is, it drops the yield from 9 to 5%...huge issue on a potentially interesting project.
Regarding the golden visa with this apartment shown, 25,000 euro will get you a golden visa? What does the golden visa give you? We are from Australia with a UK and Italian background.
No. You would need to invest €250k which gives you a golden visa (the right to live in Greece and spend as much time as you want in the Schengen area). If of italiej origin, you should get your italian passport. It would be cheap. Send me an email if you want someone who can help with the paperwork.
how do you travel from Turkey to Lesbos ?
Ferry. There are multiple lines.
Im not really optimistic about finding decent and disciplined workers on that island to renovate the property I think I would go crazy 😅
Let Angelina deal with this 😉. On a more serious note I saw some finished renovation jobs. Great quality 👍
Does the golden visa in greece lead to a euro passport?
It’s very hard to get a Greek passport. Few foreigners do.
Then what does the golden visa refer to ?@@TheWanderingInvestor
if my total investment in a property like your location and including renovation expenses and furniture reached a total a little bit more than €250,000 in a value, can that qualify me to apply for the Greece golden visa?
The renovations do not count. However if you buy land and build a villa then the land + construction count towards the €250k
@@TheWanderingInvestor Note that they changed the requirements to 250K for a single property and not many (so you can't apply if you bought many small ones like before)
@@BenjaminGolding €500k and a single property in the main areas of Greece and €250k and a few properties in the other areas such as Lesbos
how many ours of travel from turkey to greece thru ferry?
1 hour
@@TheWanderingInvestor wow so easy to travel👍
Thank you very much for the video Ladislas. However as far as I am concerned Lesvos is listed as one of the “border regions” where non-EU citizens are not allowed to buy real estate according to Greek laws. How is it possible to buy a property for golden visa in Lesvos then?
Good question. Non-EU can buy, except for turks. You just need military approval which takes 7 months. The lawyer deals with it.
Thank you for the explanation
Hello ...am Lillian from Uganda East Africa.....do African like me also purchase property there and can I also get a golden visa
Yes
250K is it inclusive of renovation cost?
No. But you can buy land and build villa. That’s included. Building and land. But not renovations.
I’m in the terrible place like Frankfurt lol😂 35:15
How did you get the 9% cap rate? I heard 120k for the house and 80 for the renovations with about 45k in returns after the management fee.
Expenses need to be removed
@@TheWanderingInvestorWhen she says you would make about half as much in the non-peak season, does she mean half per month or half as much in the whole 8.5 months vs the 3.5 months? I assumed the former and I don't think I can get down to 9%. Also is the 9% pre or post Greek rental taxes.
Also, I believe Greece has a standard 40% tax for rental income. Does that not apply to short term rentals?
@@noahcdmx1985 pre tax. Half as much in 8.5 months vs peak season. In total.
@@noahcdmx1985 sliding scale
how are you managing and trusting the contractors and construction guys over there.
Angelina deals with this
@@TheWanderingInvestor yeah I mean it’s still a hassle in the Greek island. Generally unreliable work, slow etc. something an American would be shocked by I guess.
Same goes for material costs in the smaller islands.
@@knownothingfinance7807 yes. Not easy.
When you have a good team everything is possible and timelines always met.
Dude in Greece there's a 30% tax on AirBnb rentals and starting from 15% on regular ones... I don't see it in the calculation
Airbnb is classified as regular rental income. Taxes start from 15%. I don’t discuss income taxes as they change often and ultimately where people reside matters (double tax treaty or not, etc). I do the numbers, net pre income tax
@@TheWanderingInvestor Do you know if the standard 40% deduction applies to short term rental income? I've seen some say income tax for short term rentals is on gross income.
I've also read that there's a VAT tax starting in 2024 for owners of "3 or more properties" being rented short term, but I'm not sure how they count properties. Would a single house with 3 units on Airbnb trigger the VAT tax?
Obviously income tax rates can vary person to person, but these few issues would affect any potential investor.
Hi .. may I ask you what is included in notary and legal fees to be that high 12800 ?!
Government taxes such as stamp duty
@@TheWanderingInvestor ok thanks
However , with such total price , you can get in new building appartment with UAE eagle hills project in Durres with 3 billion dollar project .. buildings with swimming pools and gym and complete new area will be built on beach ..
@@ajcapitano2425 have you been to Durres? It’s disgusting.
@@TheWanderingInvestor I been 3 times .. this project will changed it same what they did in Belgrade waterfront as changed properties prices in Belgrade too
She’s fine. Definitely looks like she gets down
What about the 90 days max per year of air bnb allowance in greece?
Not on this island
I dont think its 500k on any islands, only Athens, and some other major cities.
Prices right now are 250k for Historical properties, 800k for everything else
Can I please have Angelina's contacts so that I can get in touch with her.....I want to relocate to Greece and buy a property there
Here: thewanderinginvestor.com/services/residency-and-citizenship-by-investment/invest-in-lesbos-real-estate-for-the-greek-golden-visa/
I’m in the terrible place like Frankfurt lol😂
2:19 that’s a selling point…
This island is close to Turkey so wont qualify for a golden visa i guess?
This island does not work for Turkish citizens seeking a Golden Visa unfortunately. Everyone else, yes.
I feel like I wasted 5 minutes of mylife , not getting to the point, but I would not recommend anyone to buy property to Greece, there are very clever and you may end up buying a building scheduled for demolition
Part of the standard process is lawyer due diligence, so if this truly happened to anyone I guess they were not meant to have money in any country in the world…
I liked your video. Will not touch any EU country's real estate because of their socialist mentality.
out of date. Lesvos was a lovely island until the masses of illegal immigrants came ashore. Look at the videos on here that will show you. Truly a disaster
This is what I’m concerned about it’s not controlled immigration it’s mass immigration to this Island that’s why the prices are low. It’s a problem in a lot of Countries now too many all at once and infrastructure just can’t cope
That problem was back in 2015-16. There's hardly anything now.
Angelina is now in Greece?!? 🫣
🇹🇷🇬🇷😅