Get to Know Greece

Have an idea about the profitability of your investment by knowing Greece better.


Greece, with a surface area of 132,000 km2, is located at the intersection of Europe, Asia and Africa continents at the southern tip of the Balkan Peninsula, and is neighbor to Albania on the northwest, Macedonia and Bulgaria on the north, and Turkey on the northeast. Greece has several island which 227 of them have settlement, and is the first in the Mediterranean Basin and eleventh in the world with a coastline of 13,676 km. 2,918 meter-high Mount Olympus is the highest mountain of the country, which has 80% mountainous region.

The dominant climate in Greece is largely the Mediterranean climate. The temperature in summer is 26°C - 28°C. Winters are not too harsh. According to the census in 2011, the population of Greece is approximately 11,000,000 people, 49% of which is male and 51% is female. 40-45% of the population are residing in Athens and close regions, while 25% are in Tarkya (Macedonia) and the remaining 30% in the islands, Thessaloniki, Kriti and other regions.

The first 10 settlements with the largest population are Athens, Thessaloniki, Patra, Iraklio, Piraeus, Larissa, Volos, Peristeri, Rhodes and Ioannina. 30% of the population is 30 years old or younger, 30% is 30 to 50 years of age, and the remaining 17% is 70 years of age or over.

While 92% of the population consists of Greeks, and, of the remaining 8%, 2% consists of other European Union citizens and the remaining 6% is the citizens of other countries.

Greece is a unitary parliamentary republic. The president of the country is the president elected by the parliament for five years.

Important information;

Shops throughout Greece are closed on Sundays. Other days of the week vary according to the working hours of the day. On Mondays, Wednesdays and Saturdays the shops are not open after 15:00. On Tuesdays, Thursdays and Fridays, after the siesta time between 15:00-17:00, the shops are open for the second time until 21:00. Shops in the center of Athens, some big stores and department stores have longer hours of operation. Markets are open until 21:00 on weekdays and open until 20:00 on Saturdays. The banks also serve until 15:00 on weekdays except Fridays, and serve until 14:30 on Fridays. The shops in the tourist areas do not comply with these working hours and they even can be open on Sundays. There is no restriction for restaurants and cafeterias. Small grocery stores can also be open on weekends in addition to these working hours. Pharmacies are also subject to the same restriction.

Economic Structure

In Greece, the share of the state in the economy is 40%. In the Greek economy, which is composed of service-oriented economies, shipping, tourism and banking are the most important sectors. The share of industry in GDP is 12%, while the share of agriculture is 3.6% and the share of services is 84.9%. Tourism, shipping, finance, construction and telecommunication industry are the most important items. The major products produced in the agricultural sector employing 11.8% of the workforce are fresh fruits and vegetables, olives, tobacco, sugar, rice, wheat, processed fruits and vegetables, canned peaches, tomatoes and olive oil.

Shipping is a vital sector for Greece. The sector creates employment for more than 200,000 people. The Greek merchant fleet holds about 20% of the world fleet.

The tourism sector, which is important for the Greek economy, accounts for about 16% of the country's proceeds. 657 thousand people are employed in the sector.

The economy shrank sharply with the crisis in 2008. By 2016, the economy has given signals that it would start to see positive values , even if slightly. A growth expectation is available as 2.7% for 2017 and 3.1% for 2018 with the increased tourism revenues.

Therefore, the economy, which has started to recover after a major crisis, also has a reflection on the decreasing house prices during this period, and after a long period of waiting, an expectation for a rise in house prices has occurred. For this reason, as the prices are at this level and expectations have started to increase, we would like to remind you that it is difficult to find these prices again, and we advise you to make a quick decision on these prices.

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