A Philosophical View

Danae Tsakiris, Director of RE advisory and agency for Kentriki-Savills Greece, explains how the market is currently performing

From magnificent hilltop villas to cosy whitewashed abodes, Greece offers a range of opportunities for all types of buyers in many asset classes, across a range of great locations.

Institutional, and other large-scale investors, are currently focused heavily on the office sector, which has great potential as rental demand for prime office space is high. Tourism was and still is one of Greece’s most fruitful sectors and a large number of hotels and resorts are under development. Despite the effects of the pandemic, the performance of Greek tourism in 2022 and the first reports on 2023 show a very positive recovery pattern, and much quicker than initially estimated.

In the residential market, arguably most international interest is from private buyers, whether for second homes or investors for the buy-to-let market. The Greek 2^nd home market has been significantly led by foreign buyers in the last 15 years, most of whom originate from European countries. However most recently we have witnessed a surge of increased interest from American, Middle Eastern and Asian buyers, especially for the Greek Golden Visa program which provides a 5-year renewable European Passport to any buyer investing 250,000€ or more in Greek real estate.

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