Greek expatriates are buying up real estate in their historical homeland

The interest of Greek expatriates in purchasing holiday homes in Greece has increased significantly this year.

According to data collected by the Dutch retailer Elxis, second and even third generation Greeks, mainly from the US, Canada and Germany, but also from other countries, have significantly increased their purchases of holiday homes on the local market, and especially this year. More than every tenth resort property purchased by Greek expatriates.

According to Giorgos Gavriilidis, Managing Director of Elxis: “According to our data, 20.5% of expats buying homes in Greece come from Germany, another 20.5% from Canada, 17.8% from the USA. Expats permanently residing in the Netherlands also buy houses in Greece (11% ), France (6.8%) and Switzerland (5.4%). The areas of interest to them are primarily Crete, Chalkidiki and the Ionian Sea.”

Expats prefer newly built homes, with more than 75% of them purchased at the planning stage, i.e. even before construction begins. Their goal is to have not only a holiday home during the summer holidays, but also a property that will generate significant income during the rest of the year, mainly through digital short-term rental platforms.

As Gavriilidis notes, “A typical example is the project we promoted in Chalkidiki with cave dwellings, which was 35% purchased by expatriates. Accordingly, our other project with villas in Marathi (Crete) was purchased by expatriates at 27%.”

According to Elxis analysis, the recovery trajectory of the domestic housing market and rising prices are one of the incentives for Greek expatriates as expectations for further market growth have improved. At the same time, despite the price increase that has occurred, rates remain significantly lower than in the countries of residence of expatriates, while high-quality properties are offered in Greece.

Another reason behind the increase in consumer interest this year is due to the significant increase in expatriate travel to Greece this summer.

The company offers an apartment in the center of Corinth for 70,000 euros Greece Home Invest.

Description

For sale one-bedroom apartment in the center of Corinthian town (Corinthos), Corinthia region of Greece. Located at 4^ohm floor of a five-story building. Area: 57 sq.m. There is a living room, kitchen, two bedrooms, bathroom, balcony. There is an elevator.

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