A corruption scandal rocking Rhodes has taken a new turn as Greece’s Anti-Money Laundering Authority exposed €500,000 in suspicious assets tied to Urban Planning officials. From cash-stuffed homes to rented apartments and gold coins, the findings point to a money laundering scheme. With stamps, fake documents, and ancient coins seized, the investigation intensifies as authorities push for justice.
Tag: real estate
Eleven MPs from Greece’s ruling New Democracy party have raised concerns over “aggressive” real estate and business purchases by Turkish buyers in northeastern border areas, particularly in Evros prefecture, questioning the role of “Turkish capital” and seeking government action.
The Athenian Riviera, a stunning 60-kilometre coastal gem from Piraeus to Sounio, is witnessing a property boom, with prices in Vouliagmeni soaring to €7,441 per square metre. Driven by luxury developments like the Elliniko project and growing interest from international investors, the southern suburbs of Athens are leading Greece’s real estate surge, offering a blend of seaside charm and modern convenience at a fraction of the cost of other Mediterranean hotspots.
Tom Panos blames tradies demanding $900/day and hesitant developers for Australia’s housing crisis, citing 40-50% higher building costs and delays as key barriers in a market locking out buyers.
An iconic Greek-inspired villa at No.2/37 Duke Street in Sunshine Beach, designed with Mediterranean elements like arched windows and a belvedere, sold for $3.5 million within days of hitting the market. The property, part of a duo named after Mykonos, features three bedrooms, two bathrooms, and maximizes natural light with its off-white walls and spacious interiors.
A retro-styled house at 9 Manton St, Richmond, owned by the same Greek family since the 1970s, is now on the market with a price guide of $2m-$2.2m. This 550sq m property, rich in cultural heritage, has potential as a filming location for projects like ‘Wog Boy’ or Sooshi Mango sketches, thanks to its vintage features and nostalgic charm.
Greek Australian billionaire Nikos Andrianakos passed away on March 17, 2025, at age 81 due to heart failure while pursuing an investment project in Greece. A rags-to-riches icon, he built a $1.49 billion real estate empire from a single gas station and was a generous benefactor to his community. His legacy lives on through his business ventures and charitable contributions.
Millionaires flock to Greece, drawn by tax breaks and Golden Visa, boosting real estate with 1,200 settling from 2022-2024, per New World Wealth.
The Greek government has fast-tracked approval for three major tourism investments totaling over 1.2 billion euros. These projects, located in Evia, the Peloponnese, and Western Greece, aim to boost the country’s high-end tourism sector, create new jobs, and attract high-net-worth visitors.
George Procopiou secures full ownership of Athens’ iconic Astir Palace Resort.
Bill Gravanis, owner of Luna Park through Oscars Group, has raised $37.4 million to fund a major revamp of the iconic theme park. The funds were secured through the sale of The Village on Summer Street mall in Orange, with plans to transform Luna Park into a top tourist destination. Meanwhile, the Crossroads Hotel is also set for renovations as part of the ongoing growth of Gravanis’ hospitality empire.
Greek shipping magnate George Procopiou has completed the acquisition of the Astir Palace Vouliagmeni hotel group, solidifying his ownership of the iconic Athenian luxury destination. This follows a two-stage purchase, culminating in full control of the complex, which includes two Four Seasons hotels, a marina, high-end restaurants, and luxury villas.
A historic Toorak mansion, Coonac, has sold for over $130 million, potentially breaking Australia’s real estate record. The buyer remains unknown, despite speculation. The sale highlights Melbourne’s booming luxury property market.
Over 9,000 Golden Visa applications flooded Greece in 2024. Explore the booming demand and processing backlog implications.
Greece is considering a 100% property tax on non-EU buyers, following Spain’s move to curb speculation. The policy could impact British retirees and international investors, prompting interest in alternative destinations like Cyprus.
Rents in Attica have skyrocketed by up to 100% over the past eight years, pushing both low-income and middle-class households to the brink. Despite government efforts to regulate the market, demand continues to surge while wages fail to keep pace. With a severe housing shortage and thousands of vacant properties remaining off-market, Greece now holds the highest rental difficulty rate in the EU. As living costs soar, the crisis threatens to spiral further, increasing pressure on policymakers to take urgent action.
Greek and Turkish business leaders gathered in Istanbul for a high-profile forum highlighting investment opportunities in Greece. Organized by Turkey’s Economy and Trade Association (ETD) and Enterprise Greece, the event drew strong interest in key sectors such as tourism, real estate, technology, and supply chains. Greek Consul General Konstantinos Koutras emphasized Greece’s economic reforms and the growing bilateral cooperation between the two nations. The forum also included private B2B meetings, fostering new business partnerships and strengthening economic ties between Greece and Turkey.
Greek singing star Konstantinos Argyros and his wife, Alexandra Nika, are building a luxurious family compound in the Athens suburbs, complete with multiple swimming pools and a playground for their son. The project also includes homes for Argyros’s twin brother and parents. Despite the ongoing construction, Argyros continues his music career, filming a video for his latest hit, “Proud Eagle,” in his childhood neighborhood.
Greece’s Golden Visa system offers investors three tiers of opportunities, with Tier A requiring a €800,000 investment in prime locations like Athens and the Islands. The real estate market has seen strong growth, particularly in areas like Piraeus and Kavala, as demand rises. Investors are advised to consider both price growth and minimum investment requirements when making their decisions.
Greece is transforming a former airport into a €7.5 billion futuristic city called Ellinikon. This ambitious project will feature Greece’s first skyscraper, a massive shopping mall, a sprawling sports park, and luxury residences, all while prioritizing sustainability and coastal views. Expected to be completed by 2037, Ellinikon aims to boost Greece’s economy, attract a million new tourists annually, and create 80,000 jobs.