Why the prices of holiday homes in Greece are expected to continue to rise

Having already moved high and upwards in the last two years, the prices of holiday homes in Greece are expected to continue their upward trend in the coming period, as a result of high demand from abroad.

The high demand from the Greek market will continue to increase in the coming months, as well as the high demand from the high demand of the Greek market.

Despite the big rise in the domestic real estate market, which is reflected in the most official data, those of the Bank of Greece, Greek real estate is still cheaper than that of other European markets, even when it comes to holiday homes with sea views and swimming pools.

The figures are cited by Elxis-At Home in Greece, a real estate and legal services company with offices in Thessaloniki, Crete and Utrecht, the Netherlands, with an international clientele of property buyers. In fact, foreign buyers have increased their available funds for property purchases in Greece.

According to data collected by the company over the past two years, the average selling price of holiday homes has increased by 44%, now standing at €378,500 this year, up from €263,000 in 2022. Over the last 12 months alone, the increase has reached 27.8%, compared to a 12.5% increase from 2022 to 2023, due to consistently high demand and the preference of foreign buyers for larger and higher-quality properties.

“We see that this year, the total value of the sales we are making has increased significantly compared to last year, even though in absolute numbers, the homes sold are comparable to those of 2023. Specifically, most of our sales involve holiday homes with an average value of €350,000, whereas last year the corresponding figure did not exceed €300,000,” says Mr. Georgios Gavriilidis, CEO of Elxis, which specializes in the holiday home market and is based in the Netherlands.

Interpreting this year’s shift towards larger and more expensive properties, Mr. Gavriilidis notes that “newly built properties with a private pool, close to or with a sea view, and a range of amenities, costing €350,000 are particularly difficult to find in other European countries, where the cost is on average 40% higher. Therefore, the decision to invest in Greece is particularly easy, even if the cost is now higher compared to previous years.” According to him, this is also evidenced by the buyers’ preference for increasingly higher-quality holiday homes, as the value/price ratio improves accordingly.

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