Firm woos Kenyans to put money in Greece real estate


Kioleoglou Kosta, the Avakon managing partner. PHOTO | COURTESY

Property consulting and engineering services firm Avakon Kenya has stepped up its efforts to have Kenyans invest in Greece's real estate through the European nation's residence-by-investment programme.

Avakon Kenya’s managing partner, Kosta Kioleoglou, said Greece’s Golden Visa Programme, which provides access across Europe with a minimum investment in property of €250,000, is one of the friendliest anywhere.

“This is the smallest minimum capital investment considering that the threshold is €300,000 in the case of Cyprus, and €500,000 in both Spain and Portugal,” Mr Kioleoglou said.

The programme has no requirements of minimum stay in the country and gives access to all European countries without further visa requirements.

“Just a few days ago the government announced that the 24 per cent VAT that used to apply for all new property transactions is now removed for the next three years. This means those who enter the market in the next 36 months will purchase properties almost 20 percent cheaper,” said Mr Kioleoglou.

Avakon Kenya, which also providing automated parking system solutions, is eyeing a piece of the real estate pie through its parent company RED Avakon.

RED Avakon represents one of the biggest German brands in the automatic Parking System, Klaus Multiparking in East Africa.

“Investing in the development of high standard eco-friendly modern design residential properties is offering the market unique properties in the Athenian Riviera and the island of Paros and is taking advantage of the deficit displayed by this sector of the market.”