Paros, Cyclades.
Athens, the Cyclades and Halkidiki are the Top 3 destinations in Greece where international buyers are seeking to invest in holiday homes, according to data presented at the recent 23rd Prodexpo conference held in Athens.
The results of the study carried out by Spitogatos Insights were presented by Dimitris Melachroinos, CEO at Spitogatos.gr and David Hueso Gutiérrez, CEO at Spitogatos Insights.
Spitogatos is a property website featuring property ads, real estate agencies, real estate news & articles and other relevant content.
According to the property listings company, approximately one-fifth of online searches for real estate in Greece are recorded abroad. Last week, real estate experts participating in the conference said Greece’s strong tourism performance was stimulating demand for properties and shooting prices up, creating at the same time new market needs.
Buyers from Germany are the most interested in purchasing a home in Greece, mainly on the mainland, in Thessaloniki and Halkidiki and mostly for 100m2 homes valued at around 170,000 euros.
Athens, Greece.
Next on the list, American and diaspora Greek investors are seeking homes around 125m2 in size and valued at 350,000 euros with their sights set on the Cyclades and Athens.
Third are holiday-home seekers from the UK including Greeks living abroad who are looking for 115m2 properties in Athens and the Cyclades and are willing to spend some 250,000 euros.
Other nationals looking for real estate in Greece are the Spaniards, Cypriots and the French, who prefer Paros, the Cyclades and Athens with a budget of 260,000 euros for 110m2 homes.
According to Gutiérrez, prices from residential properties are up by 6.5 percent compared to the previous quarter mainly in Athens, the northern and southern suburbs in Attica, the Cyclades, Piraeus and Thessaloniki.
Heraklion, Crete. Photo source: Visit Greece / Y. Skoulas
With regard to homes for rent, properties in the center of Athens, the Cyclades, the southern and northern Attica suburbs and Crete go for the highest prices.
Earlier this year, a market report released by Engel & Völkers Greece found that there was high demand for real estate along the Athenian Riviera and a “significant increase” in property purchases from mid-2021 onwards, with market insiders expecting figures to even triple compared to 2019 and 2020.
The 23rd Prodexpo conference is Greece’s flagship event for the real estate industry, bringing the best in class of content (speaker sessions, mentoring sessions, new business trends) and thought-provoking discussions on development projects. This year’s conference took place October 24-25.
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