Buyers seek out quiet spots
The Greek property market is this year observing a shift of foreign holiday home buyers to areas that are less popular, but at the same time do not lag behind in natural beauty – quite the opposite.
According to a relevant analysis by Elxis – At Home in Greece, which specializes in the field of holiday homes, this trend is likely to become dominant during 2024. Areas that are unknown to the general public and offer mild tourism development and therefore more peace and quiet, are developing into hot spots for foreign buyers.
“The lure of more affordable purchase costs, combined with areas of mild tourism growth and traffic, is proving to be a particularly attractive combination for our customers in 2024. This trend has been consistent in recent years, but this year looks set to stand out more,” explains Giorgos Gavriilidis, managing director of Elxis.
According to the Elxis analysis, two main regions of the country stand out. The first is the northwest side from Preveza to Igoumenitsa and further south to Palairos and Mytikas in Aitoloakarnania – i.e. the entire part of the mainland that is on the Ionian Sea. The second area of interest is the southern part of Rethymnon and in general the southern side of Crete, which is clearly less developed for tourism than the northern part of the island.
There, according to Gavrielidis, “buyers avoid the crowds, enjoying the nature and beauty of the beaches, as was the case several years ago, while at the same time they can acquire a holiday home at much more affordable prices, against a more popular point.”
For example, he notes, in areas opposite Lefkada and Corfu the sale prices of newly built holiday homes are 25% lower than on those popular islands, around 250,000-300,000 euros. Similar prices are also observed in southern Crete, where a newly built two-bedroom holiday home with a swimming pool and its own 400-square meter estate costs €250,000 today, or €300,000 with a third bedroom.
“Especially in the southern part of Rethymno, there is a lot of buying interest,” notes Gavriilidis.
