The holiday home market seems to show strong investment interest from Europeans and Americans. According to Lefteris Potamianos, President of the Athens-Attica Realtors Association, there are many reasons why foreign investors are interested in investing in our country.

For many it is a means to diversify their investment portfolios and hedge against inflation. For others, it is a way to achieve a better return on their investment than they could find in their home countries. In addition, many foreign investors are attracted to the long-term stability that the real estate market offers, especially compared to stocks and other financial investments that can be volatile.

The majority of villa buyers in Greece are from European countries, particularly the UK, Germany, France and the Scandinavian countries. These buyers are attracted by Greece’s sunny climate, beautiful beaches and relaxed lifestyle. They generally see the purchase of a villa in Greece and especially in the summer destinations as a good investment opportunity and a way to secure a second home for holidays and retirement.

In fact, many members of the Greek diaspora, especially those living in the United States, Canada and Australia, have invested in Greek real estate in recent years, mainly in their place of origin. They see buying a villa in Greece as a way to reconnect with their roots and secure a second home for holidays and retirement. Many of these buyers are also interested in renovating traditional Greek houses and preserving the country’s cultural heritage.

According to Mr. Potamianos, despite the rise in prices, the prices of country houses still remain at affordable levels. Also, it is observed that the prices for the purchase of a house in a summer destination may have increased in recent years, however this increase was much smaller than the increase in real estate prices in the urban centers and especially in the Attica region.

Today the prices for the purchase of a single family house in 12 popular islands of the country (regardless of age) are as follows: In Corfu the prices range from 2,600 euros per square meter, in Kefallonia at 2,500 euros per square meter, in Zakynthos at 2,350 euros per square meters and in Lefkada at 2,170 per square meter.

In Paros, where the demand for buying a country house is at an all-time high, prices are at 4,800 euros per square meter, while in Tinos at 3,000 euros per square meter.

At the same levels (2,950 euros per square meter), in Naxos.

Also, in Mytilini the prices are at 1,800 euros per square meter, in Chios at 1,900 euros per square meter and in Rhodes at 1,950 euros per square meter

Finally, on the two nearby islands of Athens, Spetses and Hydra, the prices for the acquisition of a detached house are 3,500 euros and 4,500 euros respectively.

Source: Capital.gr