Global Property Buyers Eager to Invest in Greek Real Estate

Recent findings unveiled by real estate firm RE/MAX indicate a growing interest among international property buyers to invest in Greece, either for establishing permanent residences or acquiring vacation homes.

The data highlights that 49 percent of buyers view real estate as a lucrative investment opportunity, while 22 percent seek properties for holiday purposes, and 20 percent are interested in obtaining residency. Analysts at RE/MAX attribute this robust demand to the investors' confidence in the Greek economy.

The primary countries fuelling this trend are Israel, China, and Germany, collectively constituting the majority of property purchases. Additionally, active markets include Bulgaria, Turkey, Italy, France, the Netherlands, and the United Kingdom.

Among the age groups, individuals aged 41 to 50 represent 37 percent of all property acquisitions, followed by those in the 51 to 60 age bracket (36 percent), and seniors aged over 61 (16 percent).

The data also reveals that one in three properties purchased falls within the price range of up to 100,000 euros, with 28 percent of buyers preferring properties valued between 200,000 and 300,000 euros. Furthermore, 27 percent opt for real estate priced between 100,000 and 200,000 euros, while 12 percent choose to invest in properties exceeding the 300,000 euro mark.

Apartments are currently the most sought-after property type, making up 46 percent of purchases, followed by detached houses at 24 percent, duplex homes at 10 percent, and land plots at 15 percent.

RE/MAX experts observe that Chinese and Israeli investors are particularly inclined towards properties in Attica. Northern Greece is attracting buyers from Germany, Bulgaria, Serbia, and Turkey, while the Ionian Islands are preferred destinations for British, German, and Dutch buyers. Crete stands as a favored choice for investors from Israel, Germany, England, and France.

Greece remains one of the most attractive European destinations for investment, particularly through its renowned golden visa programme. Launched in 2013, the Greek Golden Visa Program grants a five-year residence permit in exchange for as low as a €250,000 real estate investment in Greece.

Source: https://greekcitytimes.com/2023/09/22/global-property-buyers-eager-to-invest-in-greek-real-estate/