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Economy

Not Just Tourists: German Pensioners Want to Buy Greek Property

ATHENS – The push to get pensioners from northern European countries to spend the winter in Greece could go beyond that as German retirees are eager to also buy property and not just visit.

A Germany-based real-estate agent speaking to Berliner Morgenpost said the rising demand is due to the COVID-19 pandemic that’s waning in Greece and the pensioners wanting to feel safe and looking for holiday homes in Greece.

Sales on the islands of Paros, Rhodes, Patmos, Mykonos and Tinos have increased by 70-80 percent compared to 2021, said GTP Headlines.

Germans are also eager to get away from the cold and are attracted by the lower prices and quality of life in Greece, with cheaper prices and accommodations compared to Spain and Southern France, the agent said of the offerings.

Greece’s Tourism Ministry has also been aggressively promoting the country as a year-round destination and winter spot along with noting the weather and wanting to lure northern Europeans from that dreary season there.

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ATHENS - After inviting foreign investors to qualify for Golden Visas by buying properties, Greece is looking at limiting how many nights apartments and homes can be used for short-term rentals, which spiked prices and is drying up the market.

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