The Greek government has been forced to introduce new measures in order to try to save its economy.

The new measures include a large increase on Greek property tax. Whilst this is a bad thing for the local residents, there is one group that is benefiting from it – the foreign buyer. As many Greeks have found themselves having to put their house on the market, it is proving to be a bargain bucket for those looking to invest in the country.

The average house price has been falling for the last three years, after Greece saw the market at its peak. Many properties have lost as much as 40% of their value and as many Greeks also own holiday homes in their native country, they are being forced to sell off one of their properties at a reduced price, meaning foreign investors are grabbing a bargain by negotiating huge discounts.

The Greek island are the most popular for holiday homes and foreign buyers, however the majority of sales in Athens still tends to be between Greeks only. If you want to purchase a property there you will need a Greek tax number and bank account, as well as 1.5-2% of the property price to pay legal fees.

To understand the full step-by-step process to buying a property in Greece, collect The Overseas Guides Company’s ‘Greece Property Buying Guide’