https://www.dcapitalinvest.com/

Drago Capital Investments SA, Xeniou Dios 2, Vári (2026)

12/09/2023

Porto Cheli: A Greek Gem for Investors
Porto Cheli, located on the eastern coast of the Peloponnese peninsula in Greece, is not just a beautiful place – it's also a great opportunity for real estate investors. Let's explore why Porto Cheli is an attractive option for investors.
Prime Location: Porto Cheli's location is a big draw. It's close to Athens and well-connected to other parts of the Peloponnese. Good roads and ferries make it easy to reach, making it a hotspot for tourists and potential property buyers.
Luxurious Lifestyle: This area is known for luxury. You'll find upscale resorts, fancy villas, and exclusive yacht clubs. If you're an investor, this means you can tap into the high-end market and expect good returns on your investment.
Rising Demand: Greece's real estate market is on the rise, and Porto Cheli is a popular choice. More people want vacation homes and rental properties in beautiful spots like this. As an investor, you can benefit from this trend by offering properties that cater to these travelers, leading to high occupancy rates and rental income.
Diverse Investment Options: There's a wide range of investment opportunities in Porto Cheli. You can invest in waterfront villas, boutique hotels, or development projects. This variety lets you choose investments that match your risk tolerance and long-term goals.
Tourism and Beyond: Porto Cheli has more than just beaches. It's rich in history and culture, with ancient ruins, charming villages, and vibrant local markets. This mix of tourism and cultural attractions makes investing here even more appealing.
Conclusion: If you're an investor looking for a piece of Greek paradise, Porto Cheli is an excellent choice. Its prime location, luxury offerings, increasing demand, investment diversity, and cultural attractions make it a promising place to invest in real estate. As Greece's real estate market continues to grow, Porto Cheli shines as a place where you can enjoy financial rewards and become part of a captivating Mediterranean haven.

11/06/2023

Petralona:

Petralona is a vibrant neighborhood located in Athens, known for its rich history, diverse attractions, convenient transportation, and promising investment opportunities.

With a fascinating past that dates back thousands of years, Petralona is steeped in history. It takes its name from the famous Petralona Cave, an archaeological site that offers a captivating glimpse into prehistoric times.

When it comes to things to do, Petralona has something for everyone. The streets are filled with lively shops, charming boutiques, and cozy cafés, making it a delight to explore. The neighborhood is also renowned for its bohemian atmosphere and thriving artistic community, with galleries showcasing contemporary works and live performances of music and theater.

Transportation in Petralona is hassle-free, thanks to its convenient access to public transportation. Buses run regularly, and the nearby Petralona metro station provides easy connections to other parts of Athens, making it a breeze to navigate the city and explore its attractions.

Petralona is also an attractive destination for investment opportunities. Its central location, coupled with its growing popularity and cultural vibrancy, makes it a promising choice for real estate ventures. The area offers a diverse range of residential properties, including traditional houses and modern apartments, catering to various preferences and budgets.

11/06/2023

Plaka:

Following Ermou Street, the most famous shopping hub of Athens, and going down south, you will arrive at the neighborhood of Plaka.
The area is found between Syntagma and Monastriraki and it is easily accessed on foot from the center of Athens.
Due to the numerous ancient Greek monuments that are scattered all around the area, Plaka is also known as the "neighborhood of the gods".

Plaka is one of the oldest neighborhoods of Athens, located right below the Acropolis hill.
It is extremely beautiful and picturesque, distinguished for its authentic character and traditional layout.
The largest part of Plaka consists of neoclassical houses that date back to the 19th century, although archeological findings suggest that the region has been continuously inhabited since the prehistoric times.

All the buildings in Plaka have been listed and this is the only part of Athens that has been untouched by modern urban development, allowing you to get a glimpse of the city's past.
Not much has changed in Plaka for the past 100 years.

The most beautiful part of Plaka is definitely the settlement of Anafiotika. The settlers who constructed the neighborhood arrived from Anafi Island and as a result, you will find pretty Cycladic houses leading to Acropolis.

The historic neighborhood is full of landmarks worth seeing that make Plaka itself seem like an open-air museum. Among them, you will discover the Monument of Lysicrates, the 11th century Church of Saint Nicholas Rangavas, the Museum of Greek Folk Art, Benizelou Mansion and Canellopoulos Museum, as well as other Byzantine churches and museums.

Plaka is also full of charming little cafes, bars, traditional taverns and souvenir shops.

Within a short walking distance from Plaka, you will find more important historic sites, such as the Roman Forum, the Tower of the Winds, the Acropolis, the Theater of Dionysus and the Temple of Olympian Zeus.

07/06/2023

Becoming an investor in Greece: technical steps

To gain the legal status to purchase property in Greece, there are several technical steps you need to follow:

1. Engage a Lawyer: Hire a Greek lawyer who specializes in real estate transactions. They will review the property documents, ensure the legality of the transaction, and guide you through the process.
2. Obtain a Greek Tax Identification Number (AFM): As a foreign individual or entity, you must apply for a Greek Tax Identification Number (AFM) from the local tax office. This number is required for various legal and financial transactions, including property purchases.
3. Open a Greek Bank Account: You will need to open a bank account in Greece. This is where you will transfer the funds for the property purchase and handle financial transactions related to the property.
4. Conduct Due Diligence: Your lawyer will conduct due diligence on the property, which includes verifying ownership, checking for any liens, mortgages, or encumbrances, and confirming that all necessary permits and licenses are in order.
5. Negotiate the Purchase Agreement: Work with your lawyer to negotiate the terms and conditions of the purchase agreement. This includes the purchase price, payment schedule, and any contingencies or conditions that need to be fulfilled.
6. Sign a Power of Attorney (if applicable): If you are unable to be physically present for the property purchase, you can grant power of attorney to your lawyer or a trusted representative. This allows them to act on your behalf in the purchase process.
7. Secure Financing (if applicable): If you require financing, approach Greek banks or financial institutions to explore mortgage options. Provide the necessary documentation and meet the requirements set by the lender.
8. Sign the Purchase Agreement: Once the negotiations are finalized, sign the purchase agreement (also known as the "synallagma" or "protokollima") with the seller. This legally binds both parties to the terms of the transaction.
9. Transfer Funds: Arrange the transfer of funds to complete the purchase. Your lawyer will provide guidance on the proper channels and documentation required for the transaction.
10. Sign the Deed of Sale: Once the funds have been transferred, both parties will sign the deed of sale (known as the "akinitopoiisi") before a notary public. This step legally transfers the ownership of the property to the buyer.
11. Obtain a Property Survey: It is advisable to obtain a property survey to accurately determine the boundaries and dimensions of the property. This can be done by a licensed surveyor.
12. Register the Property: Register the property with the competent land registry (Ktimatologio) to officially establish your ownership rights. Your lawyer will assist with the registration process and ensure all necessary documents are submitted.
13. Settle Tax and Legal Obligations: Ensure that all tax obligations related to the property purchase are fulfilled. Your lawyer can advise you on the specific taxes and fees applicable in your situation.
14. Property Management (if applicable): If you plan to rent out the property, consider engaging a property management company to handle tenant management, maintenance, and other property-related tasks.
Please note that each property transaction may have additional specific requirements or steps depending on the circumstances. It is important to consult with a qualified lawyer who can provide personalized guidance based on your situation and ensure compliance with all legal procedures.

07/06/2023

Investing in Greece: the whole process explained

Real Estate in Greece: A Step-by-Step Guide

1. Research and Familiarize Yourself: Start by conducting thorough research on the real estate market in Greece. Understand the legal framework, property types, popular locations, and any specific regulations that may apply to foreign buyers.
2. Engage a Real Estate Professional: Consider working with a reputable real estate agent or lawyer specialized in Greek property transactions. They can provide valuable guidance, assist with property searches, and ensure legal compliance throughout the process.
3. Secure Financing: Determine your budget and explore financing options. If needed, consult with Greek banks or financial institutions to understand the requirements and conditions for obtaining a mortgage or securing funding.
4. Property Search: Begin your search for suitable properties in Greece. Consider factors such as location, property size, amenities, proximity to essential services, and potential for growth or rental income.
5. Property Due Diligence: Once you've identified a property of interest, conduct a thorough due diligence process. This involves verifying the property's legal status, ownership, boundaries, permits, and any potential encumbrances or legal issues.
6. Legal Assistance: Engage a Greek lawyer experienced in real estate transactions to assist you. They will review contracts, negotiate terms, ensure legal compliance, and facilitate the transfer of ownership.
7. Purchase Agreement: Once you've selected a property and negotiated the terms, a purchase agreement (preliminary contract) is typically drafted. This legally binds both parties and outlines the conditions of the transaction, including the purchase price, payment terms, and any contingencies.
8. Property Valuation: It is advisable to arrange for a professional property valuation to ensure that the agreed-upon price is fair and reasonable.
9. Payment and Taxes: Prepare the necessary funds for the purchase, including the down payment and associated taxes. In Greece, buyers are required to pay various taxes, such as property transfer tax, VAT (if applicable), and notary fees.
10. Title Deed Transfer: The final step involves the transfer of the property's title deed (final contract) at the Land Registry Office. This official registration completes the acquisition process, and you become the legal owner of the property.
11. Post-Purchase Considerations: After acquiring the property, consider practical aspects such as property management, insurance, and potential tax obligations (e.g., property tax).
It's important to note that real estate transactions can vary depending on individual circumstances, property types, and specific legal requirements. Therefore, it is advisable to seek professional advice and consult with relevant authorities to ensure a smooth and successful real estate acquisition in Greece.

Legal Procedures for Investing in Real Estate in Greece:
1. Engage a Greek Lawyer: It is essential to engage a Greek lawyer who specializes in real estate transactions. They will guide you through the legal procedures, ensure compliance with Greek laws, review contracts, and protect your interests throughout the process.
2. Due Diligence: Conduct thorough due diligence on the property you intend to purchase. This involves verifying the property's legal status, ownership, boundaries, any existing mortgages or liens, building permits, and compliance with zoning regulations. Your lawyer will assist you in obtaining the necessary documentation and conducting the necessary searches.
3. Preliminary Agreement: Once you have completed due diligence and negotiated the terms, a preliminary agreement (purchase agreement) is typically drafted. This agreement outlines the terms of the transaction, including the purchase price, payment schedule, conditions, and any contingencies. It is essential to have your lawyer review and advise you on the content of the agreement before signing.
4. Payment of Deposit: Upon signing the preliminary agreement, you may be required to pay a deposit (usually 10% of the purchase price). The deposit demonstrates your commitment to the transaction and is typically held by a third party, such as a notary or lawyer, until the final contract is signed.
5. Tax Registration Number (AFM): To engage in any financial transaction in Greece, including real estate purchases, you will need to obtain a Tax Registration Number (AFM). Your lawyer can assist you in obtaining this number from the tax authorities.
6. Final Contract: The final contract (title deed) is prepared by a notary and signed by both the buyer and seller. This contract transfers ownership and outlines the final terms of the transaction, including the purchase price, payment terms, and any conditions. Your lawyer will review the final contract and ensure its accuracy and compliance with legal requirements.
7. Transfer of Ownership: The final contract is registered at the competent Land Registry Office to transfer ownership officially. Your lawyer will handle the necessary paperwork and registration process on your behalf.
8. Payment of Taxes and Fees: You will be responsible for paying various taxes and fees associated with the real estate transaction. These may include property transfer tax, VAT (if applicable), notary fees, and legal fees. Your lawyer will calculate the exact amounts and guide you on the payment procedures.
9. Post-Purchase Registrations: After completing the transfer of ownership, your lawyer will assist you in registering the property with the relevant authorities, such as the local municipality, the tax office, and the Cadastre (Land Registry). This ensures that your ownership rights are legally recognized.
It is crucial to note that the legal procedures may vary depending on the specific circumstances and property type. Working closely with a qualified Greek lawyer will help ensure a smooth and legally compliant real estate transaction in Greece.

Opening a Bank Account in Greece for Real Estate Investment:
1. Choose a Bank: Research and choose a reputable bank in Greece where you would like to open your account. Consider factors such as the bank's reputation, services offered, fees, and accessibility of branches.
2. Gather Required Documents: Prepare the necessary documents for opening a bank account. Typically, the following documents are required:
• Valid identification document (passport for non-residents)
• Proof of address (utility bill or rental agreement)
• Tax Identification Number (TIN) or Tax Registration Number (AFM)
• Proof of income or financial statements (if requested)
• Documentation related to the source of funds for the account (if requested)
3. Visit the Bank: Visit the chosen bank's branch in person. Schedule an appointment if necessary to ensure prompt service. Bring all the required documents with you.
4. Complete the Application: Fill out the account opening application form provided by the bank. Provide accurate and complete information. If you have any questions, ask the bank representative for clarification.
5. Provide Identification and Verification: Present your identification document (passport) to verify your identity. The bank will make copies of the documents and may ask for additional identification verification if needed.
6. Provide Proof of Address: Submit the proof of address document (utility bill or rental agreement) to confirm your residential address. Make sure the document is recent and shows your name and address clearly.
7. Provide Tax Information: Provide your Tax Identification Number (TIN) or Tax Registration Number (AFM). This information is essential for tax compliance purposes.
8. Deposit Funds: Depending on the bank's policies, you may need to deposit an initial amount to activate the account. The bank representative will guide you on the minimum deposit requirements and payment options.
9. Review Terms and Conditions: Carefully review the terms and conditions of the bank account, including any associated fees, transaction limits, and account maintenance requirements. Seek clarification on any terms that you do not understand.
10. Sign Necessary Documents: Sign the necessary documents related to the account opening, such as the account agreement and signature cards. Read and understand the documents before signing, and retain copies for your records.
11. Receive Account Details: Once the account is opened successfully, the bank will provide you with account details, including your account number, online banking access, and any associated debit cards or checks.
Remember to keep your bank account information secure and notify the bank immediately in case of any changes in your contact details or if you suspect any unauthorized activity in your account.
Please note that specific requirements and procedures may vary between banks and can be subject to change. It is advisable to contact the chosen bank directly or consult with a local professional for the most up-to-date and accurate information regarding opening a bank account in Greece.

After purchasing a property in Greece, there are several options for what you can do with it:
1. Long-Term Rental: You can choose to rent out your property on a long-term basis, typically for a period of one year or more. This option provides a stable rental income and is suitable for tenants seeking a permanent residence.
2. Vacation Rental (Airbnb): Greece's popularity as a tourist destination makes vacation rentals a viable option. Platforms like Airbnb allow you to rent out your property on a short-term basis to travelers. This can be a profitable option during peak tourist seasons, but it requires active management and compliance with local regulations.
3. Personal Use: You may decide to use the property for your personal enjoyment as a vacation home or a second residence. This allows you to have a private retreat whenever you visit Greece.
4. Resale: If you anticipate a favorable market or wish to capitalize on your investment, you can sell the property at a later stage. This option allows you to potentially earn a profit if property values have increased since your purchase.
5. Renovation and Development: Depending on the condition and potential of the property, you may choose to renovate or develop it further. This could involve expanding the existing structure, adding amenities, or converting it into a different type of property. Renovation and development can increase the value of the property and open up additional investment opportunities.
6. Land Use: If you've purchased undeveloped land, you can explore various land use options. This includes agricultural activities, building new structures, or leasing the land to farmers or other businesses.
It's important to consider factors such as local regulations, market conditions, and your investment goals when deciding how to utilize your property. Additionally, it's advisable to consult with professionals, such as real estate agents, lawyers, or property management companies, to guide you through the process and ensure compliance with legal and tax requirements.

30/05/2023

Zografou:

Zografou is a vibrant neighborhood located in the heart of Athens, Greece. With a rich history and diverse attractions, it offers a variety of amenities and opportunities for residents and visitors alike.

Zografou's historical roots can be traced back to ancient times, and it derives its name from the Church of Zoodochos Pigi. Over the years, the neighborhood has transformed into a bustling and sought-after area.

The neighborhood boasts a range of housing options, from apartment buildings to single-family houses. Residential areas in Zografou are characterized by a mix of architectural styles, reflecting the diverse periods of development. It offers a comfortable living environment with easy access to amenities such as shops, supermarkets, and restaurants.

One of the highlights of Zografou is the Alsos Park, a picturesque green oasis that provides a tranquil escape from the city's hustle and bustle. With its winding walking trails and recreational facilities, the park is a favorite spot for outdoor enthusiasts and families.

Zografou is also home to various cultural attractions and landmarks. The open-air cinema "Cine Zografou" is a popular spot for film enthusiasts during the summer months. Additionally, the neighborhood hosts events and festivals that celebrate art, music, and local traditions.

The neighborhood is known for its vibrant cultural scene, offering opportunities for residents and visitors to immerse themselves in artistic and musical experiences. Whether it's attending a live performance at one of the local venues or exploring art exhibitions, Zografou has something to offer for every artistic taste.

Transportation in Zografou is convenient, with excellent connections to other parts of Athens. The neighborhood is well-served by public transportation, including buses and metro stations. In fact, exciting news for Zografou is the upcoming construction of a new metro station, which will further enhance connectivity and accessibility within the neighborhood and beyond.

Moreover, Zografou presents promising investment opportunities due to its central location, growing popularity, and the anticipated development associated with the new metro station. Its vibrant atmosphere, proximity to universities, and access to amenities make it an attractive choice for real estate development and business ventures.

29/05/2023

Omonia:

Omonia Square, or Plateia Omonias, is a central square located in the heart of Athens and is the oldest square in Athens. It has been a significant landmark and gathering point for locals and tourists for many years. Omonia Square holds historical and cultural importance and has evolved over time to become a bustling hub with a mix of commercial, residential, and transportation activities.

The square's name, "Omonia," translates to "Concord" or "Unity" in Greek, symbolizing the unity of the Greek people during the early years of the country's independence. Omonia Square underwent various transformations throughout history, reflecting the changing dynamics of the city.

In the past, Omonia Square was known for its elegant architecture and grandeur. However, it experienced a decline over the years due to economic and social challenges. Today, efforts are being made to revitalize and rejuvenate the area.

Many years back, Omonia square was renowned for its beauty and today, if you follow the stairs right to the metro station you can see photographs from the past.

During the day, you might see young artists performing in the middle of the square, Athenians having their morning coffee and others rushing to catch the metro.
Omonia is a multicultural spot with many contradictions.
Close by there are many shops, cozy cafes and restaurants, Greek taverns and bars.

Omonia Square is also a place where social and political demonstrations and gatherings frequently take place. The square has witnessed significant historical events and has been a symbolic site for public discourse and expression.

26/05/2023

Monastiraki:

The attractive neighborhood of Monastiraki is situated west of Syntagma square.
It is known for being one of the most picturesque neighborhoods of Athens, with narrow streets and a labyrinth of crossing alleys, occupied by numerous shops and street vendors.
Monastiraki is famous for the bazaar that takes place every Sunday, displaying a huge quantity of products.

Walking around the area, you will have the opportunity to explore the famous market of Monastiraki, where you will find top quality food among other goods.
There are many hotels in this area and various bars and restaurants that offer terraces with a great view to the region's ancient sites.

Monastiraki is primarily known for being a shopping district.
In its open-air market, you will find street food and a wide variety of antique shops (for books, vinyls, decorative objects, etc), boutiques, souvenir shops, alternative fashion, gift shops and more.

As for the area's landmarks, you will discover old churches, mosques and various ancient monuments, including the Roman Agora, the Gate of Athena, Hadrian's Library and Stoa of Attalos. A few museums can also be spotted in its neighborhoods. Among them, you will discover the Museum of Illusions, the Museum of Greek Folk Musical Instruments and the Museum of Modern Greek Culture.
The neighborhood's central location makes it an ideal starting point for exploring other significant attractions in Athens. Nearby attractions include the Plaka neighborhood, the Ancient Agora, the Acropolis Museum, and the vibrant neighborhood of Psirri.

Monastiraki is a popular meeting point and offers many opportunities for entertainment.
There are various kinds of charming cafes, bars, restaurants and taverns for all tastes.
Monastiraki is not only a vibrant destination during the day but also comes alive at night. The area offers a lively nightlife scene with trendy bars, clubs, and live music venues. Visitors can enjoy a mix of modern and traditional entertainment options, including live Greek music performances and DJ sets.

Investing in Monastiraki offers exciting prospects. The neighborhood's appeal as a bustling tourist destination and its historical significance make it an attractive choice. Opportunities for investment lie in real estate, such as apartments and commercial spaces, as well as the hospitality sector with hotels and vacation rentals. With its vibrant tourism scene, Monastiraki holds potential for profitable ventures and high rental demand.

This is a great place to experience the true colors of the local life and culture!

25/05/2023

Syntagma:

Syntagma Square (Constitution Square) is the bustling heart of modern Athens and serves as the city's most popular meeting point. Facing the Greek Parliament, an impressive former palace that was once the residence of King Otto, the square is guarded by the Evzones soldiers. These soldiers wear traditional Greek uniforms and perform ceremonial duties, protecting the Parliament and the Tomb of the Unknown Soldier.

Syntagma Square is not only a central transportation hub, housing the metro station for Lines 2 and 3, but it also offers convenient access to bus and tramway stops just steps away. The area surrounding Syntagma Square features several nice bars, cafes, and restaurants. Additionally, Ermou Street, the city's largest commercial street, is located in this vibrant area.

As one of the largest squares in Greece, Syntagma provides various facilities, including luxurious hotels, shops, travel agency offices, and currency exchange booths. Across the street, a taxi rank is available, and the square regularly hosts concerts and other events.

Many major Athenian landmarks are within a short walking distance from Syntagma, as well as picturesque neighborhoods such as Plaka, Monastiraki, Psiri, Thissio, and Mets. Visitors can explore historic buildings like Zappeion, old churches, the National Garden, and other parks. They can also discover ancient monuments such as the Temple of Olympian Zeus and the Arch of Hadrian. Additionally, a few museums, including the Cycladic Art Museum, can be found in the vicinity.

Investing in Syntagma, the heart of modern Athens, offers promising opportunities. The area's central location, vibrant atmosphere, and proximity to major landmarks make it ideal for real estate and hospitality ventures. With additional retail and dining prospects in the surrounding neighborhoods, capitalizing on Syntagma's dynamic tourism scene can be highly advantageous within Athens' cultural and commercial landscape.

24/05/2023

Kolonaki

Kolonaki is an upscale district of Athens, famous for its chic atmosphere, sophisticated restaurants and high fashion stores.
The elegant neighborhood is a hub for fine dining and luxury shopping, with sophisticated boutiques and stylish bars, as well as cute places where you can have your morning coffee.

Strolling around the neighborhood, you will discover historic buildings, cultural centers, parks and more.
Although Kolonaki is one of the most expensive areas in Athens, a visit there is a must so that you can see a different part of the city, even if you don't plan on indulging in a shopping spree.

The history of the wealthy neighborhood in its current form begins in the 19th century, when many prominent figures started to settle there due to the close proximity to the former Palace of the king of Greece.
Kolonaki is a fairly new part of the city of Athens, considering the fact that up until the late Ottoman Occupation Period, this region was mostly pasture and wilderness.

It is a historic neighborhood that bears great political significance, since various important events took place there.
From the 20th century and onwards, Kolonaki started to gain cultural importance, as it housed many artists and other people with cultural influence. Ever since, the area has been developing without losing its timeless charm.
In this stylish neighborhood, you will discover a blend of neoclassical and modern architecture.
There are several historic mansions that used to belong to important individuals, as well as well-preserved buildings that were constructed sometime between the 1960s and 1980s, expanding the diversity of the local urban landscape.

In the area, you will find several art galleries and a few of the city's best museums, such as the Benaki Museum, the Museum of Cycladic Art, the Numismatic Museum, the Children Museum and the Museum for History of Greek Costume.
One of the most visited local landmarks is the Orthodox Church of Saint Dionysius with baroque elements.

Don't forget to visit the lively Dexameni Square, which houses charming coffee shops for a long stroll on a stone-paved street among trees.
From Kolonaki, you will also have the opportunity to get to Licabettus Hill, which offers one of the most scenic viewpoints in Athens.

Drago Capital Investments SA

12/09/2023

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