Interest from abroad in local properties has grown 25 pct

Interest from abroad in local properties has grown 25 pct

Demand for properties from potential foreign buyers has this year soared 25 percent compared to 2018, according to an analysis by property ad website Spitogatos. The driving force behind this flurry of investments in the local realty market is made up of Americans, Germans and British house-hunters, with the Dutch behind them.

Chinese buyers are fifth in the chart, confirming their steady demand for properties in the context of the program granting them residence permits, while showing there is still some way for them to go before they become the most dynamic group of foreign investors in Greek real estate.

This chart is not based on actual acquisitions but rather on online searches for assets in Greece. In this context the Americans are the most active potential buyers, focusing their attention on properties on Santorini, in Glyfada and on Mykonos.

In contrast, German nationals (some of them of Greek heritage too) are more interested in properties in northern Greece, particularly in the center of Thessaloniki, as well as Kalamaria and Kavala. This is quite different to the past, when the focus was on country homes on Crete and in the Peloponnnese, due to the increased interest in properties to lease out instead of for personal use.

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