Great demand for Greek real estate

Seaside properties in Greece are of particular interest

“Greek property market is developing very dynamically,” German economic newspaper Handelsblatt said, citing data from German real estate firm Engel & Volkers in Greece, showing an increase in demand for properties by the sea. reportedly faced with

“80% to 85% of luxury villa purchases are made by foreigners, most of them coming from German-speaking countries such as Germany, Austria and Switzerland,” the financial paper said.

Meanwhile, according to the Bank of Greece, foreign investment in the Greek property market increased by 61% in the first half of the year to reach €788 million. Market observers expect he expects 1.7 billion euros to flow into the Greek property market from abroad this year. This would surpass his previous record of 1.45 billion in 2019.

The increase in demand is also due to coronavirus, as reported by Handelsblatt. “Following our experiences during the pandemic, more people than ever are seeking the security of their vacation properties.”

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