According to Berkshire Hathaway HomeServices Athens Properties, interest in buying a home in Greece remains high.
With the property market expanding across Europe, most buyers are looking to buy properties in European countries, be it the picturesque locations dotted along the Mediterranean coast or the bustling cities of the mainland that offer their own opportunities and charm.
According to Berkshire Hathaway HomeServices' European Summer 2024 Report, programs such as the Golden Visa and Digital Nomad Visa are paving the way to residence in countries such as Greece, Italy, Spain, Portugal and increasing interest in incentivized purchasing. real estate.
Regarding the European market, the report states that while some European governments may raise the threshold for entry into the program “Golden Visa”in recent years there are still many opportunities for potential buyers in terms of obtaining a residence permit.
Remarkably, from Portugal, which is one of the safest countries in the world, to Greece, which has some of the most picturesque beaches, it is difficult to find anyone who would not consider purchasing property here.
Greece, Italy, Portugal, Spain and the UK are five countries that have been of interest to investors since last year, either because of the scenery and decent standard of living they offer or the stay opportunities they provide through various programs.
A report on the Greek market states that properties are usually in high demand ahead of summer. As investors continue to consider our country in terms of purchasing real estate and its operation (receiving income from rental), as the number of tourist visits is constantly increasing.
Kyriakos Hidis, CEO of Berkshire Hathaway HomeServices Athens Properties, says: “The Greek property market has been largely undervalued for many years, but in the last three to four years it has become very attractive to investors, leading to rising property prices“
According to him, “In 2022, average property price growth was around 12%, followed by around 13% in 2023, but this does not seem to have an impact on buyers, who continue to rate Greece highly and interest in the country is not forecast will fall“
Most potential buyers come mainly from countries such as Israel, Turkey, Bulgaria, UK, France and the Netherlands. For now, the main criterion in finding buyers is proximity to the sea.
Mr. Hidis continues: “It doesn't matter if it's a popular island or an area of mainland Greece, they just want to be close to the beach and sea. The Greek Islands are still the most popular destination” In addition, he said that buyers are now mainly looking for apartments and properties that do not require special maintenance.
“The tourist period lasts 10 months in Athens. Moreover, the only “quiet” months are January and February“, says Mr Hidis. He further said: “With prices constantly rising, renting a luxury holiday apartment in Athens is still significantly more affordable than a four-star hotel. With this in mind when planning your holiday, it is not surprising that rental property occupancy remains consistently high“
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