UK increases stamp duty for foreign property buyers
The stamp duty surcharge will begin to be collected from April 2021. This decision may lead to a temporary surge in the activity of foreign investors in the country's market,…

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In Ireland, agents sell real estate online
Virtual views, live chats with brokers and electronic signature of documents are the new reality of the Irish real estate market, writes The Irish Times. Savills Ireland has launched a…

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The fed lowered its interest rate due to risks to the US economy
The regulator took emergency measures in connection with the spread of the coronavirus and the fall of markets. For the first time since the 2008 financial crisis, the rate decision…

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Foreign investment in real estate in Greece has become a record

Sales of Greek real estate to foreigners soared by almost 30 % over the year and reached a record level in 2019 — 1.45 billion euros, writes Ekathimerini.

According to the Bank of Greece, in 2019, foreigners purchased real estate in the country for a total of 1.45 billion euros. This is 29.4% higher than the previous year-1.13 billion euros.

Real estate accounted for 35 % of foreign direct investment in the Greek economy, which amounted to 4.2 billion euros, according to Ekathimerini.

Foreign investment in Greek real estate has been growing rapidly in recent years. The number of transactions has increased sixfold since 2016, when the volume of investments by foreigners was only 22.4 million euros.

Despite this, in the last quarter of 2019, there was a noticeable decline, which experts believe is temporary. Sales decreased by 9.6 % compared to the same period in 2018.

According to experts, the slowdown in activity was expected and is associated with a wait-and-see attitude of investors in the run-up to the entry into force of measures that stimulate the market, such as the exemption of purchases of new buildings from VAT until 2022.

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