June 21, 2024

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Holiday homes in Greece are in great demand from foreigners – which one do they prefer?

Holiday homes in Greece are in great demand from foreigners – which one do they prefer?

Newly built homes or even buildings not yet started, in areas such as Crete and the Ionian Islands, They are highly favored by foreign buyers Country house in our country.

The Greek holiday home market continues its upward trajectory in the first quarter of 2023, As evidenced by Elxis company dataOn the basis of which the value of homes sold this year by 4% Compared to the corresponding quarter of last year, the number of deals reached an annual level top 10%while the average selling price for each property by 12%.

According to the same data, There is a shift towards newly built constructionsthe company even pointed out that most of the sales in the first quarter of this year relate to In constructions that have not yet started any of the plans.

Many of them are offered together with management and exploitation services, i.e. as an integrated investment product, which is very attractive among interested buyers, as it is estimated that, on average, The cost of buying an off-plan property is 20% less, regarding the purchase of a ready-to-move-in property. At the same time, newly built homes offer a much higher return in the short term, as they can be rented out at higher rents than existing older properties.

It was the most popular area for foreign buyers Crete, while the Ionian followed. An indication of the existing demand from foreigners wanting to acquire a holiday home in these areas are examples of buyers who have Elxis Corporation. Like in Chania, where a couple from Sweden made a down payment without viewing the property but from a virtual viewing and then “locked it in” on a 24-hour flight, or a German woman who also decided to go ahead with the purchase without seeing the property in person.

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The British and the “Golden Visa”

The same data indicates that 17.4% bought real estate in order to secure the “golden visa”, mainly Buyers from Great Britain.

According to Elxis, “In 2022, a typical UK buyer’s spouse, who has saved €500,000, will use 50% of that money and borrow the remaining 50% to buy a house rather than totaling €500,000 and €500,000-€600,000. But this year, The couple themselves will only use the 250,000 euros available, which is also the minimum investment, in order to secure the residence permit, through the golden visa programme.