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Global real estate market news: February 2024

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We are happy to introduce our second news-block dedicated to the most significant events on global real estate markets and the latest immigration news from prian.info

The main topics of the agenda:

  • Greece is going to tighten the conditions of the popular investment program. The  Prime Minister has announced his intentions to raise  the minimum threshold for the Golden Visa program in some urban centers and islands to €800,000.
  •  The prospects of Cypriot real estate market in 2024. The risks are obvious when we are talking about the investments in Cyprus. The local market is very dependent on foreign demand from tourists and relocants. The demand has been on the rise for the last couple of years, but is obvious that most of the buyers have already completed their objectives.
  •  The crisis on the German real estate market is not that bad. The situation on the German real estate market is negative when  talking about the formal numbers. The demand is weak and the prices are falling.The VDP experts do not expext the situation to reverse in 2024. And this may be evidence in favor of potential investors.

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Tags: Greece, Cyprus, Germany, Market Analysis, Life abroad, Investment, Immigration, Real Estate, Immigration programs

Read also

Greece changes the conditions for granting a residence permit
The new law will come into force on January 1, 2024. It has already been approved by the government.
Cyprus is considering relaxing the requirements for obtaining a residence permit
Investments in local housing and insured annual income will be required.
Eurostat: housing sales in the EU have slowed down in 2022 after increase in 2021
However, in some countries the dynamics turned out to be quite the opposite.
Revenue from tourism in Cyprus has increased by 30% year-on-year
The country has earned €418 million in the first four months of 2023
Greece is going to introduce new taxes on short-term rentals
The value-added tax (VAT) will be imposed on those owner-managers who have three or more properties.
More than 1 mln property owners in Greece will be exempted from paying the Single Property Tax (ENFIA) this year
The average ENFIA tax payment decreased by 31% from €489 in 2018 to €368 in 2023.

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