June 25, 2024

Athens News

News in English from Greece

Short-term rentals: Israelis fill Thessaloniki


Almost all objects short term real estate Thessalonikidesigned to accommodate entire families, were filled with Israelis who fled the country due to the war with the Palestinians.

The Israelis, engaging the capital’s Jewish communitywhich is rushing to help its compatriots with all the means available to it, have filled most of the available properties in the city, sharply reducing the number of offers, which has caused a stir from local property owners.

Given the shortage of supply, some Israelis are willing to pay any amount to secure a property and do not hesitate to sign two- and three-month leases.

First of all, we are talking about apartments offered on short-term rental platforms such as Airbnb, which are very affordable.

Thessaloniki is in the spotlight due to its historical connections, but there is also strong demand in Athens, with particular attention being paid to the southern suburbs and areas outside the city limits.

It is significant that last week one of the real estate agents concluded a deal for two villas in the Saronida area for a period of more than six months, in the hope that by then basic calm would be restored.

“After the outbreak of tensions in the Middle East, many Israelis rushed to seek refuge in countries they consider friendly and not at risk of rocket attacks.”PASYDA President Andreas Chiu noted in a conversation with OT.

Cyprus ranks first in terms of proximity, followed by Greece. These are two countries in which Israeli citizens feel safe due to the closer relations between them. Turkey, given the fact that President Erdogan has accused Netanyahu of escalating the war, is a no-go zone. Indeed, a few days ago, Israel ordered its diplomats to leave Turkish territory.

Buying a home is also of great interest under the Golden Visa program. According to market information, real estate agencies in various cities of the country (except Athens and Thessaloniki in Rhodes and Chania) are receiving requests from Israelis who want to purchase real estate in Greece worth more than 250 thousand euros in order to have the right to permanent residence and free movement throughout Europe.

This is an impetus for the development of the Greek real estate market, which is still under the radar of international investors, with all new buildings becoming a hot commodity.

The Greek property market is moving at reasonable prices and remains one of the cheapest in Europe in terms of price per square meter, also thanks to the stability that has been created in recent years.

Apartment in Loutraki Corinthia
Apartment in Loutraki Corinthia Greece



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