Holiday home interest growing
Infrastructure projects across the country attracting the attention of potential buyers abroad
Demand for holiday homes is about to increase further, strengthened in several areas by the many infrastructure projects under way, predicts a new nationwide survey of the real estate network RE/MAX Greece.
It showed that demand does not seem to have been particularly affected by inflationary pressures or the war in Ukraine. Of the 76 real estate agencies with over 1,000 company advisers, 61% reported that the demand for holiday homes has not been significantly affected, while 39% (mainly in northern Greece) highlighted that the demand for renting furnished apartments in city centers, for example in Thessaloniki, has grown significantly.
According to the company, many people from Northern Europe report that they plan to move permanently to Greece once they retire. At the same time, according to RE/MAX, “the strengthening of demand for Greek holiday homes this year seems to have benefited from the very good performance of tourism, but also from the significantly lower prices than other Mediterranean or European destinations.”
The survey data showed Mykonos as the destination with the highest asking prices for house sales (7,250 euros per square meter). Paros and Santorini follow, with an average asking price of €3,450/sq.m. and €3,250/sq.m. respectively.
In the Ionian Sea, Corfu (€1,800-2,500/sq.m.), Kefalonia (€1,500-2,600/sq.m.) and Lefkada (€1,700-2,150/sq.m.) move around the same levels in terms of the average asking prices, while sale prices in the tourism destinations of Halkidiki, Volos and Kalamata on mainland Greece are €1,583/sq.m., €1,700/sq.m. and €1,950/sq.m. respectively.
Regarding the countries with the greatest interest in acquiring holiday homes in Greece, RE/MAX sees a split between northern and southern Greece: In the northern part of the country, interest comes mainly from Germans (including many Greek expatriates), Serbs, Bulgarians, Romanians and Albanians. In southern Greece, the greatest interest is from buyers from Israel, China, Germany, France and Lebanon.
