The indicators and prospects of the Greek economy, as well as the recovery of the investment grade, have created the appropriate climate, strengthening the confidence of buyers to invest in high-quality real estate in our country.
According research by Henley and Partnersthe number of high-income investors to purchase luxury homes in 2024 is predicted to be the largest possible, with many of them making use of investment immigration programs.
According to Ms. Korina Saia, managing director of Premier Realty Greece “foreign investors as well as Greek expatriates looking for homes in Greece usually come from European countries such as Germany, Switzerland and England but also from America and Australia “.
The increased demand of foreign investors comes from the fact that they want to diversify their portfolio due to the uncertainty of specific foreign markets, while at the same time they achieve better returns in Greece than in their own countries. It is a fact that despite the strong upward trend of recent years, real estate prices in the Greek market are still attractive compared to other European countries such as Spain, Italy, the south of France and Portugal.”
And Ms. Saia continues: “The attention of investors with very high capital for investments has turned to our country. also increased demand for luxury homes comes especially from the generation of millennials (1981-1996) and Gen X (1965-1980), especially those who work from home. The areas that have the greatest demand for luxury homes are Crete, the Athenian Riviera with the Elliniko project in focus, the Center of Athens with a view of the Acropolis, the Cyclades, Porto Heli and Corfu”.
In particular, the demand for newly built luxury homes of 150 sq.m or more that are associated with a very high lifestyle remains high and their average sales price reaches 8,000 sq.m. In particular, and since they also show an investment potential, the prices of luxury homes they range on average from 6,000 to 12,500 euros per sq.m. However, sales with higher prices per sq.m. have also been recorded.
According to Ms. Saia: “The amenities of luxury homes that buyers are looking for are privacy, exercise areas, swimming pools, landscaped outdoor areas, views, energy fireplaces, electric car charging stations, bioclimatic design infrastructure, security systems and advanced technology amenities ( smart homes).
Also the new EU guidelines for the energy upgrade of residential buildings show that sustainability benefits remain particularly important criteria when selling a home. Specifically, according to the directives, residential buildings should succeed in reaching their energy certificate, at least in category E by 2030 and in D by 2033. From 2028, all new buildings should have zero greenhouse gas emissions.
Alongside due to high interest rates and inflation there is also a resurgence of interest in smaller high-end ‘green’ homes of the order of 300,000-500,000 euros and in specific areas such as Marousi, the center of Athens and the southern suburbs including Piraeus”.
Forbes
