Luxury country houses in Greece worth from 270,000 to 370,000 euros are sought after.
The main buyers are people up to 45 years old who have saved some money and wish to acquire, mainly a newly built property of high standards in the Greek market.
The country houses
The Founder and General Manager, Revithis & Partners, Giannis Revythis, gave his own assessment of the course of country houses in Greece in recent years.
Characteristically, he mentioned that there is a great demand from good clients for vacation homes due to the pandemic, but also because of the need of families for greater comfort. This has resulted in prices skyrocketing, especially in destinations such as Crete, Corfu and Santorini, while recently there has also been an increase in more alternative destinations such as Astypalea and Kythnos.
“Foreigners vote for Greece and some see it not only as a beautiful location, but also as an investment, as a profit, to enjoy a good income” said Mr. Revythis.
Speaking about the holiday homes in Greece and who chooses them, Giorgos Gavrielidis, CEO & Founding Partner of Elxis Greek Real Estate Services BV, noted that Greece came into focus and became a destination for holiday homes as well.”
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Mr. Gavrielidis referred to the profile of prospective buyers. “We also see 35-45 year olds entering the market to exit relatively quickly.”
“Prices in the country house, 2-3 bedrooms with a small pool have a price range of 270,000 – 370,000. It is 80% of sales. New buyers want to keep the house for 5 to 10 years and then sell. We have a waiting list for these projects. We had a project in Apokoronas with 16 houses, 10 of which were sold in a week.”
Price increases
In a recent analysis, Elxis pointed out that in recent years, the sale prices of holiday homes have been increasing at an average annual rate of 8%-10%, depending on the region.
In fact, it is predicted that this rate will be maintained in the coming years, with the result that Greece is considered an attractive destination for those who aim to invest in the second home market.
Accordingly, buyers from the USA, Great Britain are mainly turning to the same use, but now also to securing a residence permit in Greece, through the “Golden Visa” program, even after the recent increase of the minimum investment amount from 250,000 to 400,000 euros, as long as the holiday home is located on the mainland and not on an island, where the limit has now increased to 800,000 euros.
For investment purposes
Buyers from countries such as Germany and France are also moving more towards own use, but some of them are also targeting rental, through short-term leasing.
Especially with regard to buyers from Germany and secondarily for those from the USA, it should be noted that a percentage of them, varying between 10% and 20%, are expatriates, who wish to acquire their first home in the country from where they come from.
Source OT
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