23.10.2023
S&P Global is the first of the “big three” rating agencies in the world who have upgraded Greece to investment grade. This happened late last week, when Greece’s rating boosted to 'BBB-/A-3.' This is a positive sign for Greece's economy and encourages foreign investment in Greece. Among the reasons why Greece's rating was upgraded is its stronger budgetary position.
In S&P’s announcement, they noted that Greece’s public finances have improved thanks to fiscal adjustments. They add that a lot of progress was made since 2015 to address Greece's economic and fiscal imbalances.
Where is Greece rated among other rating agencies? Two of the largest ratings companies, Fitch and Moody's, rank the country just one notch below investment grade. DBRS Morningstar, another rating agency, was the first to upgrade Greece's rating to investment grade.
S&P also notes that it expects "additional structural economic and budgetary reforms, coupled with large EU funds, that will support economic growth in 2023-2026." Greece expects its economic output to increase by 3% in 2024. This year, the economic expansion in Greece was 2.3%, which was more than twice the average in the Eurozone. Greece’s Finance Minister, Kostis Hatzidakis, spoke positively about the upgrade to Greece’s credit rating: “The country faces a historic window of opportunity through a combination of the right economic policy mixture with political stability.”
Greek Prime Minister Kyriakos Mitsotakis wrote on the social media platform “X” that Greece is planning to continue its agenda of “attracting new investment, creating jobs, and achieving inclusive growth.”
Mitsotakis also noted that as Greek bonds become more attractive, "borrowing becomes easier and cheaper for businesses and households. At the same time, Mitsotakis noted that “the way is being paved for billions in investment funds to be funneled to the country that could not be directed here for 15 years.”
In other news, Greece plans to repay its 5.3 billion euro loan early. These loans were given to Greece during the first rescue package, and are due to be paid in 2024 and 2025. However, they will be paid on December 15th of 2023. According to the Ministry of National Economy and Finance, Greece plans to make another early repayment in 2024.
07.08.2026
Greece is taking an important step in environmental protection, becoming the first country in the world to deploy a national satellite system for wildfire detection and monitoring. First launched in May and expected to become fully operational in September 2026, the new Hellenic Fire System brings advanced space technology to Greece's efforts against wildfires.
06.08.2026
If you own a home in the Peloponnese or have been quietly thinking about buying one, there is some news you should be aware of: At the end of June, a 40-year concession for Kalamata International Airport "Kapetan Vasilis Konstantakopoulos" was signed by a consortium led by Fraport, together with the Kopelouzos Group's Delta Airport Investments and the Konstantakopoulos Group's PILEAS. According to the National Development Fund, which retains a 10% stake in the new company, the initial concession payment is 45 million euros, and the planned investment programme is expected to exceed 125 million euros over time.
In short: Kalamata's airport is set to roughly double its traffic by 2030, with a new terminal three times the size of the current one. For anyone with a house in the region, or an eye on one, that matters.
03.08.2026
A new regulation regarding the calculation of ENFIA (Eniaios Phoros Idioktesias Akineton/annual property tax) was announced by the Greek Ministry of National Economy and Finance. The purpose of this regulation appears to be to address cases where property owners were previously taxed on more square meters than their property actually has. The new regulation, which is expected to take effect in the 2027 tax year, introduces the Electronic Building ID as a key factor in determining taxable floor area.
28.07.2026
As UNESCO recently announced, Mount Olympus – also known as the Home of Ancient Greek Gods, or Greece’s highest mountain – has been added to the list of World Heritage Sites. Of course, Greece welcomed the news with a wave of euphoria, as Mount Olympus is widely recognized for its cultural and natural significance.
23.06.2026
Moving your life to a new country brings enough to think about, including the costs. For those settling permanently in Greece, there is some welcome news on that front. Bringing your household belongings and even your car can come with relief from customs duty, VAT and vehicle registration tax. The Independent Authority for Public Revenue (AADE) has recently set out clearer rules on how this works. It's important to clarify that this relief is not exactly new, but what has changed is a significant detail: a recent AADE circular (reference E.2027/2026) spells out the eligibility, the supporting documents and the procedure, with the aim of handling applications more consistently across customs offices.
14.05.2026
For many people who own, or plan to buy, a home in Greece, the journey is part of the experience. Some fly directly to Athens, Thessaloniki, Heraklion, or Chania. Others prefer slower travel, combining trains, ferries, buses, and regional routes across Europe. Until now, however, planning a cross-border trip by train has often required patience, several booking platforms, and a healthy tolerance for uncertainty. A new proposal from the European Commission aims to make that process much simpler. The plan introduces a more unified system for booking cross-border journeys across Europe, especially train journeys involving more than one operator. The goal is clear: travellers should be able to search, compare, and book a complete journey through one platform, even when different transport companies are involved. For international buyers, second-home owners, and regular visitors to Greece, this could become an important step towards easier, more flexible travel across Europe.
07.05.2026
If you own property in specific areas of the Regional Unit of Rethymno in Crete, there is an important deadline to keep in mind. As of 30 April 2026, the posting of cadastral data begins for several areas in Rethymno, giving property owners the opportunity for the first time to review how their property has been recorded in the Hellenic Cadastre. This is an important stage in the cadastral process. It allows each owner to check the legal and technical details of their property before the records become final. In simple terms, this is the moment to confirm that your property has been correctly registered and, if something is wrong, to request a correction within the official deadline.
30.04.2026
Buying a home in Greece has always come with a long list of pleasures: sea views, sunny terraces, village squares, fresh fish by the water, and the small but serious joy of never being too far from a good bakery. Soon, for many destinations, there may be another reason to smile: better airports. Greece is preparing for a new wave of airport upgrades, with a major tender planned for 22 regional airports that are still under state management. The project is expected to mark the next chapter in the modernization of Greek aviation infrastructure, following the earlier upgrade of the 14 regional airports managed by Fraport Greece. For travellers, this means smoother journeys. For local communities, it means better connectivity. And for international property buyers, it could make certain areas of Greece even more attractive.
