VOTE OF TRUST FROM FOREIGN INVESTORS IN GREEK REAL ESTATE
Our country is at the center of the interest of acquiring a second home from European buyers. In particular, as Giorgos Gavriilidis, CEO and founder of Elxis – At Home in Greece, reports to APE-MPE, the demand for a second home in Greece from European buyers seems to remain stable. “The interest of investors from countries such as the Netherlands, Germany and Belgium, remains strong with a focus on Crete and the Ionian Islands. As a result, prices remain high as inflationary pressures drive construction costs up, a trend that continues this year. “We expect prices to increase by about 10% in 2022, despite the uncertainty that prevails in the economy”, says Mr. Gavriilidis.
At the same time, he adds, there is a significant shift towards quality by buyers, as they want to reduce risks by assessing Greece’s improved economic profile. Characteristic of this development is the fact that while in 2019 a three-bedroom seaside villa on the mainland of the Ionian would go on the market at 265,000 euros, this amount jumped to 330,000 euros in 2021.
Buyers consider Greek real estate more and more as a safe investment with improved prospects, he estimates. The country’s infrastructure significantly improves accessibility in a market where prices are rising but remain low compared to other European countries. Investors have given a vote of confidence to Greek properties that now compete with homes in countries such as Spain and Italy.
At a second home fair attended by Elxis last month in Utrecht, the Netherlands, it was clear that Greece had become a “hot” destination for home buyers, Gavriilidis said, adding that Elxis was making significant investments in human resources. its potential in new technologies, innovation and sustainable real estate. Apart from Thessaloniki and Utrecht, we recently opened a new office in Crete, serving our customers around the world in the best way, creating for them the maximum value.