American interest in Greece’s five-year residence program, primarily based on real estate investments, is increasing due to the “Trump effect” and the impending end of Spain’s Golden Visa scheme, according to a report by a reputable international property consultancy. The analysis highlights a growing shift among Americans toward Greece as a preferred destination for alternative […]

Portugal’s tourism sector experienced significant growth up to November 2024, with total revenue and accommodation income increasing by 11%, primarily driven by a 4.8% rise in overnight stays by non-residents. The average revenue per available room (RevPAR) reached €72.0, and the average revenue per occupied room (ADR) was €121.60, reflecting annual growth of 7.0% and […]

A PwC study presented at the Greek Tourism Confederation (SETE) conference forecasts that Greece welcome approximately 41.6 million tourists in 2024, marking a 22.4% increase from the 36 million arrivals in 2023. This projection underscores the robust growth trajectory of Greece’s tourism sector, which remains a cornerstone of the nation’s economy, contributing about 13% to […]

The Port of Piraeus, Greece’s largest, has been honored as the “Ferry Shipping Port of the Year 2024” at the European Ferry Shipping Summit held in Athens. This accolade recognizes the port’s significant investments in infrastructure and modernization, particularly in cruise and ferry services. Handling approximately 20 million passengers annually, Piraeus stands as one of […]

Foreign investments in Greece’s real estate sector continue to rise sharply, with Bank of Greece data revealing €1.9 billion in inflows during the first nine months of 2024—a 17% increase compared to the same period in 2023. Given that real estate inflows totaled €2 billion for the entirety of 2023, 2024 is on track to […]

Greece has decided to extend the deadline for completing property purchase contracts under its Golden Visa program from December 31, 2024, to February 28, 2025. This extension aims to ensure the finalization of approximately 3,000 pending real estate transactions, which collectively represent an investment pipeline valued at around €750 million. The Golden Visa program is […]

The Portuguese government has recently implemented changes to the processing of Investment Residence Authorization (ARI) applications, specifically targeting investors awaiting biometric appointments. These modifications aim to enhance efficiency and address existing backlogs within the system. Key Changes The updates focus on prioritizing pending biometric appointments and streamlining the overall application workflow. This initiative seeks to expedite […]

Foreign buyers in Attica are opting for larger and more expensive homes compared to local Greek purchasers, according to a study by Spitogatos.gr presented by its CEO, Dimitris Melachrinos, during a recent MORE Group event. The study reveals that foreign buyers search for homes with an average asking price of €231,625, exceeding the €216,688 sought […]

Demand for housing in Greece from U.S. buyers has surged significantly following the recent presidential elections. The election results appear to have acted as a catalyst for this trend, reflecting the discontent among some Americans over the policies anticipated under the new administration. Interest in Greek properties from U.S. buyers had already been notable at […]

The Algarve region of Portugal experienced a significant increase in hotel room occupancy during November 2024, rising by 8.9% compared to the same period last year. According to the Association of Hotels and Tourist Enterprises of the Algarve (AHETA), the occupancy rate for the month stood at 43.3%, up from 39.8% in 2023. This figure […]

In a significant move to address the economic impacts of climate change, Greece’s parliament has approved new legislation that increases taxes on tourism-related activities, including short-term rentals, hotel accommodations, and cruise ship visits. These measures aim to bolster the country’s financial resilience against natural disasters while promoting sustainable tourism practices. Higher Taxes for Short-Term Rentals […]

Northern Portugal’s hotels are experiencing a surge in bookings for the holiday season, with current occupancy rates reaching 70%. This reflects a growing trend of travelers choosing the region for its festive attractions, cultural richness, and scenic beauty. Porto and the North stand out as popular destinations for visitors seeking to enjoy seasonal events, historic […]

The Struggles of Schengen Visa Applications Applying for a Schengen visa often feels like an uphill battle for Indian travelers. Applicants must present exhaustive documentation, including bank statements, tax returns, and pay slips, only to receive visas that are valid for the exact duration of their trip. For those who need to return, the process […]

The Athenian Riviera is rapidly gaining prominence on the global real estate market, attracting growing interest from international buyers. Newly constructed properties in the area are now commanding prices of €11,200 per square meter, surpassing rates in cities like Dubai (€8,400/sq.m.), Amsterdam (€9,500/sq.m.), Madrid (€7,500/sq.m.), and Barcelona (€7,400/sq.m.). According to research by Savills and Axia […]

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