According to Savvas Savvaidis, head of Sotheby's International Realty in Greece, the Greek luxury real estate market is in a transformation phase, focusing on a wide range of buyers from different countries. In particular, it attracts international investors from regions such as Central Europe, Egypt and Australia. These are people who, until recently, Greece was not on the list of possible countries to invest in the purchase of an elite residence.
Analysts at Berkshire Hathaway noted an increase in the number of American buyers by 15-20% compared to 2022. US clients focus on real estate on the Athenian Riviera, in the northern suburbs of Attica and on popular islands such as Mykonos, Santorini and Paros in the Cyclades, as well as Crete, Corfu and Rhodes.
An important role in attracting foreigners is played by the fact that the Greek economy is on the road to recovery, unlike the uncertainty that has affected other economies. At the same time, as Savvaidis noted, "easier access to loans compared to previous years is estimated to be an incentive for more investors." According to Savvaidis, a new trend in the international market is the growing demand for smaller and more convenient homes for use, which allows buyers to consider options in some less developed areas of the country, as well as on the islands.
Russians traditionally have an interest in luxury real estate in Greece. There would be more buyers of villas and apartments from Russia if the Greek "Golden Visa", a popular program for obtaining a residence permit for investments, extended to citizens of the Russian Federation.
Source: Ekathimerini
