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Greece’s economic growth is expected to remain broadly stable at 2.3% in 2024 and 2025, broadly as expected in autumn, the European Commission said in its Winter 2024 Economic Forecast published Thursday.
Real consumption is set to expand at similar rates as last year, resulting in a slightly lower contribution to real GDP growth.
Investment is expected to pick up sizeably as the country’s Recovery and Resilience Plan gains speed, and as financing conditions ease. The composition of gross fixed capital formation is projected to shift from construction to more productive investments such as equipment and machinery.
However, investments are likely to induce higher import demand for both goods and services, which is projected to reduce the positive contribution of net exports in 2024-25,
At the same time, HICP inflation is expected to decline more gradually in 2024 and 2025, to 2.7% and 2% respectively. This is marginally lower than in the autumn forecast in both years.
*https://www.ekathimerini.com/economy/1231756/greek-economic-growth-to-remain-broadly-stable-in-2024-2025/
The second-largest city of Greece with over 1 million inhabitants in its metropolitan area, Thessaloniki serves as the country’s capital due to its rich collection of Roman, Byzantine, and Ottoman landmarks.
The city is perfectly poised on the water’s edge. The Thermic Gulf is vast and exhilarating, with gorgeous sunsets with various Balkan countries to the north and Turkey to the east. There is a Parisian feel to the new metropolis with long boulevards, pedestrian walkways, expansive squares and plenty of trees, the city, features modern universities, museums, shops, cafes, restaurants and reliable transportation services. All these are affecting the total economic landscape of the greater Thessaloniki area as well as tourism. Thessaloniki is considered as the buzzing metropolis in the country’s northern mainland.
The increase in the number of tourists (nearly 2 million in 2017, and the upward trend for 2018) is certainly due to the stabilization of the general situation in Greece, but the increase in capacity at the airport (due to privatization) and has become attractive for its long tourist season due to events and festivals that take place out the year. It is regarded as a city throughout the year.
Thessaloniki is Greece’s second major economic, industrial, commercial and political center; it is a major transportation hub for Greece and south-eastern Europe, notably through the Port of Thessaloniki.
Real Estate *In August 2023 for residential properties for sale, was asked an average of € 1,927 per square meter, with an increase of 8.99% compared to February 2023 (1,768 €/m²). Over the past 2 years, the average price in the Thessaloniki region reached its peak in the month of August 2023, with a value of € 1,927 per square meter. The month with the lowest asking price was April 2022: for a property for sale, was asked an average of € 1,347 per square meter.
Greece’s real GDP is estimated to have grown by 2.2% in 2023, slightly lower than in the Autumn Forecast. Following the strong recovery in 2022, consumption growth decreased substantially but remained one of the main growth drivers last year. Despite tightening financing conditions, investment made a significant contribution, thanks to strong construction activity and the implementation of the Recovery and Resilience Plan (RRP). The slower than expected recovery of Greece’s key EU trade partners weighed on export growth, still net exports had a positive contribution to growth.
Economic growth is expected to remain broadly stable at 2.3% in 2024 and 2025, broadly as expected in autumn. Real consumption is set to expand at similar rates as in 2023, resulting in a slightly lower contribution to real GDP growth. Investment is expected to pick up sizeably as the RRP implementation gains speed, and as financing conditions ease. The composition of gross fixed capital formation is projected to shift from construction to more productive investments such as equipment and machinery.
Panorama is one of the most privileged areas of Thessaloniki due to its location and its natural beauty. Located northeast of the city center at the foot of Mount Hortiartis with a stunning view of the Maiden of the Thermaikos.
In Panorama there are some of the most expensive and luxurious properties in northern Greece. Panorama has grown and become a luxury suburb of Thessaloniki. Today it is a destination for those looking for panoramic views, quality entertainment and good food.
According to a survey conducted by a major Real Estate firm during Sep 2018, Thessaloniki’s rents rose by 14.4 percent with the highest rises spotted in the suburbs of Panorama.
A Golden visa is a type of residence visa with added benefits, offered by several European countries including Greece. It is an investment scheme that ensures visa-free travel in the Schengen zone to non-European investors and their families.
The Golden Visa Program in Greece is exceptionally competitive as it features friendly terms, minimizing both the amount of the capital required and with the help of investment consultants it is easy to obtain. It is an investor visa and it can be renewed indefinitely as long as the main applicant keeps the investment, while there is no requirement to stay in Greece whatsoever.
Golden Visa for Families
Children under 21 years of age, parents, spouse or partner with a co-habitation agreement (concluded in Greece) and in-laws of the main investor can benefit from the same investment of 250000 euros and above and issue a permanent European residence permit too.
Property Acquisition
The most common way of acquiring a Golden Visa is through property acquisition, although there are other alternatives related to business investments.
In Panorama there are some of the most expensive and luxurious properties in northern Greece. Panorama has grown and become a luxury suburb of Thessaloniki. Today it is a destination for those looking for panoramic views, quality entertainment and good food.
According to a survey conducted by a major Real Estate firm during Sep 2018, Thessaloniki’s rents rose by 14.4 percent with the highest rises spotted in the suburbs of Panorama.
Through general investment in promising fields of Greek economy, is the other option to acquire the Greek Golden Visa, and as investment consultants we would be happy to work together on a plan on how you can utilize the opportunity for Golden Visa investment by proposing business ventures that suits your individual needs and requirements as well as being relevant to your field of expertise.
It is worth mentioning that the applicable law for the Golden visa Program may soon widen and the blend of acceptable investments will by including alternative types of assets (i.e government bonds, shares of existing Greek companies, etc).
There is an a abundance of choice when you are interested in investing in Greece for a Golden Visa. Whether you are investing in residential or commercial real estate, you can buy your property either as an individual or jointly with other investors, or alternatively as a legal entity (owning 100% of the company shares).
The Golden Visa Program in Greece is exceptionally competitive as it features friendly terms, minimizing both the amount of the capital required and with the help of investment consultants it is easy to obtain. It is an investor visa and it can be renewed indefinitely as long as the main applicant keeps the investment, while there is no requirement to stay in Greece whatsoever.
Golden Visa for Families
Children under 21 years of age, parents, spouse or partner with a co-habitation agreement (concluded in Greece) and in-laws of the main investor can benefit from the same investment of 250K /500K euros and above and issue a permanent European residence permit too.
Property Acquisition
The most common way of acquiring a Golden Visa is through property acquisition, although there are other alternatives related to business investments.
In Panorama there are some of the most expensive and luxurious properties in northern Greece. Panorama has grown and become a luxury suburb of Thessaloniki. Today it is a destination for those looking for panoramic views, quality entertainment and good food.
According to a survey conducted by a major Real Estate firm during Sep 2018, Thessaloniki’s rents rose by 14.4 percent with the highest rises spotted in the suburbs of Panorama.