According to Berkshire Hathaway HomeServices’ new property trends for 2023, investors and tourists trust Greece for luxury home rentals, mostly for the holiday season.
In particular, the company presented a report on the demand for real estate in Europe, India and the UAE. During the conference, leading industry leaders from Greece and many other countries – Italy, Portugal, Spain, the UK, India and the United Arab Emirates – analyzed the new trends and dynamics of each real estate market this year.
The Greek market has once again become a “guiding star” on the real estate world map, presenting unprecedented demand for luxury home rentals, especially during the summer months.
Greece continues to be favored by visitors and investors from all over the world as Europe’s “enchanting paradise”, as the Mediterranean country combines a beautiful historical past and timeless cultural richness with amazing coastlines and landscapes that make many consider permanent residence.
Increased demand makes it difficult to rent homes during the holidays and beyond as industry professionals urge tourists to book properties of their choice up to nine months in advance.
At the same time receiving “Golden Visa” tends to double. And many Greek tenants are being squeezed out of densely populated areas of the wider center of Athens due to sharp increase in rent.
Mr. Kyriakos Xidis, Managing Partner, Berkshire Hathaway HomeServices Athens Properties, says that “the Greek government’s announcement of increasing the Golden Visa limit from 250,000 euros to 500,000 euros mainly affects popular places and tourist destinations such as the center of Athens, as well as the popular southern and northern suburbs, the islands of Mykonos and Santorini.
The specialist explains that “this change occurs because many Greeks have been excluded from the housing market due to foreign investment, which has increased the price ceiling.
In recent years, investors from all over the world have been buying up real estate, driving up demand and prices.
In addition, many Greeks leave their homes located in central and crowded places due to high rents. With this particular measure, the government in many cases tries to tame the absurd rise in house prices, although the results themselves will show the effectiveness of this measure.
Berkshire Hathaway HomeServices Athens Properties, recognizing the unique opportunity to provide high quality real estate to international clients, recently entered the luxury tourism rental market.
Regarding the new investment move, Kyriakos Xidis emphasized the following: “We have signed a contract for several excellent properties that we will manage exclusively. This is important because very few get “exclusivity” in Greece. We have also signed a contract with a company that manages 500 villas in Greece, although they are not exclusive, and at the same time we are expanding the offer of luxury apartments in the center of Athens.”
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