Foreign property buyers reinvest their gains

Price hikes in Greek housing accelerated further in the first quarter of the year, according to data published on Monday, forcing many local buyers into changing their preferences and downsizing investment choices, experts say.

Hariton Triandafilidis, co-founder and CFO of Real Vaha, a real estate advisory company that specializes in hospitality projects and residential property, said the price rally seen in homes across the country has left many Greek buyers "in shock," wondering whether the market will cool before taking the plunge to buy a place.

"Others, however, are just as determined to acquire a home now and fear that they might miss out on this upward price cycle if they wait for six months or a year," Triandafilidis told Kathimerini English Edition.

Despite property coming under pressure in many parts of Europe amidst rising interest rates, demand for...