Why luxury pads are so attractive now
With sale prices starting from 350,000 euros and even exceeding €14 million, the luxury housing market in Greece is going through its best period since the outbreak of the financial crisis 14 years ago.
The fact that the crisis settled in Greece in the 2010s, at a time when in other European countries the sale prices of luxury homes continued to move upward, has given the Greek market a significant competitive advantage.
In particular, as Berkshire Hathaway HomeServices reported in its recent report on the European luxury housing market, in 2022 the average increase in property prices in Greece was around 12%, while in 2023 the increase was 13%, but this does not seem to affect buyers, who still rate Greece highly, and this is predicted to continue.
According to Kyriakos Xydis, managing director of Berkshire Hathaway HomeServices Athens Properties, “the Greek real estate market was largely undervalued for many years, but in the last three to four years it has become a pole of attraction for investors, which has pushed real estate prices up.” Most buyers come from Israel, Turkey, Bulgaria, the UK, France and the Netherlands.
