According to Elxis, a service company that specializes in luxury holiday homes, Germans are leading the way among foreign homebuyers in Greece, investing more and more in seaside properties, favoring areas like Crete and the Ionian Islands.
The figures show that home sales to German citizens rose by 300% in the first half of this year compared to 2021. This growth puts German buyers at the top of the list of holiday home buyers in the country, ahead of investors from other European countries such as the Netherlands, Belgium and UK.
Data from Elxis, which has been in the real estate business for over 30 years, also shows that Germans have the highest net worth, buying homes worth an average of 350,000 euros. This amount corresponds to an increase of about 20% compared to last year, as confidence in Greece grows, said George Gavrielidis, managing director and founder of Elxis.
“Greece offers excellent value for money, which is increasingly noticed by investors. The overdeveloped coastline of other countries such as Spain and the very high prices in other Mediterranean countries encourage buyers to look for other quality solutions, thus turning to our country. Despite the challenges posed by the war in Ukraine and inflationary pressures, demand for housing in Greece remains strong and is expected to continue, as shown by the latest data from the Bank of Greece for the first quarter of 2022, according to which the inflow of funds amounted to 374 million euros for the purchase of real estate in Greece, which is 74.8% more compared to the corresponding period in 2021,” emphasizes Mr. Gavrielidis.