European buyers are choosing Greece among their favourite European countries in order to acquire a second home, leaving behind Mediterranean countries like Spain and Italy.
In this regard, the CEO and founder of Elxis – At Home in Greece, Giorgos Gavriilidis, has stressed that international buyers’ demand for a second home in the Hellenic Republic looks to be stable.
“Investor interest from countries, such as the Netherlands, Germany, and Belgium, remains strong, focusing on Crete and the Ionian islands,” Gravriilidis pointed out.
He stressed that this is keeping prices high after inflationary pressure drives construction costs upwards, “in a trend seen continuing this year.”
“We expect prices to advance by about 10 per cent in 2022 despite the uncertain conditions,” Gravriilidis noted. He added that “we are seeing a significant shift in quality as investors want to reduce risks, encouraged by Greece’s improved economic profile.”
According to him, indicative of this is that before the spread of the Coronavirus, in 2019, a typical three-bedroom villa on the Ionian coast would cost 265,000 euros, while the number increased to a total of 330,000 euros during last year.
Buyers are considering the Hellenic Republic’s real estate as a safe place to make an investment with improving prospects, according to Gravriilidis.“Key infrastructure projects are improving accessibility in a market where prices are rising but remain lower than elsewhere in Europe. As a result, investors have shown a vote of confidence in Greek real estate, which is now rivalling countries like Spain and Italy,” the CEO of Elxis – At Home in Greece emphasised.
A recent report published by Henley and Partners, in cooperation with Deep Knowledge Analytics, called the Best Investment Migration Real Estate Index revealed that Greece, together with Spain, Montenegro, Portugal, and Turkey, were ranked in the top positions as Europe’s most favourable destinations for real estate investments for residence and citizenship rights.
The Best Investment Migration Real Estate Index was introduced to assess investment programs that offer international real estate investments as an effective pathway to residence rights as well as the acquisition of citizenship.
In this index, Greece was ranked in the sixth position. The Hellenic Republic is also known for its Golden Visa scheme, which attracts a large number of people.
Besides real estate investments, internationals are also interested in visiting Greece for tourism purposes. Recently, the country’s authorities announced that Greece would abolish all entry restrictions for travellers, starting from May 2, in order to welcome a more significant number of tourists.
Buyers are considering the Hellenic Republic’s real estate as a safe place to make an investment with improving prospects, according to Gravriilidis.“Key infrastructure projects are improving accessibility in a market where prices are rising but remain lower than elsewhere in Europe. As a result, investors have shown a vote of confidence in Greek real estate, which is now rivalling countries like Spain and Italy,” the CEO of Elxis – At Home in Greece emphasised.
