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Society

Real Estate Market in Greece in High Demand by European and International Investors

October 29, 2022

ATHENS – The real estate market in Greece is at the center of European and global investment interest, according to participants in the annual Prodexpo conference in Athens that took place on October 24 and 25.

Despite global challenges, the real estate market is showing exceptional resilience in Greece, offering opportunities to investors in properties ranging from homes, offices, storage areas to plots of land for commercial or entertainment purposes, according to the overall picture presented at the expo.

In particular, foreign nationals are looking to buy private properties in Greece, with the most popular focus being Athens, the Cycladic Islands, and Chalkidiki peninsula in northern Greece.

According to Spitogatos Insights, one-fifth of all searches on its rental and sales platform originate abroad, with German nationals leading the search for properties all over Greece. German interest is focused on mainland Greece, particularly Thessaloniki and Chalkidiki. They are followed by United States nationals – both Americans and Greeks of the diaspora – who are interested in buying summer homes in high-cost areas like the Cyclades and southern suburbs of Athens. British citizens are the third top nationals to search for homes to buy, but their demographic also represents Greeks living in the United Kingdom; they are interested in the center of Athens, north and south suburbs, and the Cyclades.

Besides Germans, Americans, and British, interest has been expressed by the Spanish, Cypriots, and French; the French in particular are interested in buying homes in the Cyclades, particularly Paros island, and the center of Athens. Bulgarians are interested in cheaper real estate in Kavala and Chalkidiki, in northern Greece, while Israelis have shown up as major buyers for the first time, with a growing interest in the center of Athens, north and south suburbs, and the Cyclades.

Prodexpo participants, who represented international hotel chains and realtors, also saw a strong demand in urban properties from digital nomads and students, but offers are limited as a lot of properties need to be upgraded.

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