Business · Companies · 11 hrs ago
Costa Navarino sells custom homes to wealthy buyers in Greece
Costa Navarino is a luxury resort in Greece with homes near the Ionian Sea.
Most of its villas are lived in by their owners rather than rented out.
The development is part of a wider trend, as Portugal, Italy and Greece rank highly for attracting mobile wealth, according to a Henley & Partners assessment.
Italy and Greece offer wealthy newcomers flat annual taxes on foreign income, subject to different terms.
Greece’s scheme requires newcomers to invest at least €500,000 in the country.
Golden Visa rules have tightened across southern Europe: Portugal removed its property route, Spain ended its programme, and Greece raised investment thresholds and banned short-term rental of qualifying properties.
Costa Navarino’s homes are custom-designed after purchase, and construction takes two to three years once permits are obtained.
Costa Navarino sells buyers plots on which they can commission individually designed villas.
The residential development began in 2017 with the Sea Dunes and Olive Grove neighbourhoods, both sold off-plan.
Construction starts only after a buyer signs, and building can take two to three years, depending on how quickly permits are issued.
Most homes in Sea Dunes are occupied by their owners rather than rented out.
Property sales are described as the second pillar of Costa Navarino’s business model.
- Who
- Costa Navarino sells the homes to buyers, who commission custom villas.
- What
- Buyers purchase plots and have individually designed villas built.
- When
- The residential development began in 2017. Construction takes two to three years after a buyer signs, depending on permit timing.
- Where
- Costa Navarino, in Greece, including the Sea Dunes and Olive Grove neighbourhoods.
- Why
- Property is the second pillar of Costa Navarino’s business model.
This story does not have two clearly opposing sides.
Residential construction began with Sea Dunes and Olive Grove, which were sold off-plan.
Construction begins once the buyer has signed.
Building takes this long, depending on how quickly the permit is issued.
- Residential development began
- 2017
- First neighbourhoods
- Sea Dunes and Olive Grove
- Construction period
- Two to three years after signing, depending on permit timing
- Development area
- More than 1,000 hectares across four separate sites
- Direct and indirect investment
- More than €1.2 billion