2022 might be the best year for her Greek luxury real estate marketwith transactions reaching record amounts both in areas of steady interest, such as Mykonosas well as in other parts of the country, such as Syros and the Lefkada.
These estimates belong to Greece Sotheby’s International Realty, a house for the promotion and sale of luxury homes, which in a statement emphasizes that the main point of reference for the sale of second homes could only be Mykonos. On the island of the winds, the absolute record value of the sale of an individual residence in Greece was set, with the amount of the transaction exceeding 23 million euros. The above transaction is approximately four times the value of the average transactions of the island and comes to seal the title that Mykonos rightfully holds as the flagship of Greek luxury real estate.
According to the company’s data, a similar course is followed by other regions of the country, such as Syros, Lefkada and the Paxos where not only was there very high interest, but really high trades were also recorded, with the records succeeding one another.
More specifically, on the island of Syros, the highest value transaction in the history of the island was recorded this year with the sale by Greece Sotheby’s of a property for 3.7 million euros. This particular transaction value is approximately 3 times higher than the average level of deals of this scale in previous years.
Accordingly, on the island of Lefkada, the historical record for the sale value of luxury property was broken in 2022 not just once but twice with transactions of 4.1 and 5.4 million euros, in a of which even the largest amount per square meter with its value was recorded to be set at 16,700 euros per sq.m. In the announcement it is noted that in Lefkada, the luxury real estate transactions are minimal, with most hovering around the 1.5 mark million euros and the specific records set in 2022 represent almost 3x values.
The case study of Paxos
According to Greece Sotheby’s announcement, a typical example of its dynamics of Greek destination and indeed independently of previous international fame, is the island of Paxos, where in just 4 years the values of the top deals multiplied. More specifically, from May 2018 until July 2021 through transactions of the house the region’s record was broken 6 times in a row rising from 1.6 million euros 2018, to 1.9 and 2.5 million euros in 2019 and to 3.5 million, 5 million and 5.2 million euros in 2021. Corfu and Mykonos at the peak of demand
Based on the data pool of Greece Sotheby’s International Realty, the primes in demand for the 8 months of 2022 are held by Corfu and Mykonos with the Athenian Riviera, Paros and Rhodes to follow.
Tinos, the center of Athens, Crete, Kea and Paxos complete the top ten.
At the level of countries of origin, Great Britain remained in first place in 2022, with USA and France occupy 2nd and 3rd place in requests presenting however excellent momentum, up 76% and 74% respectively over the same period in 2021.
Top – 10 destinations based on requests
January – August 2022
3. Athenian Riviera
7. Center of Athens
Top – 10 countries of origin requests
January – August 2022
1. Great Britain
THE Savvas Savvaidis, president and CEO of Greece Sotheby’s International Realty, said: “The 12 national records of all-time high transactions that we have achieved in recent years are the most practical proof of the international reach of the brand, of the effect it has on the buyers who trust but also the effectiveness of extensive marketing actions in all key international markets. Through a systematic effort, we have effectively succeeded in upgrading the recognition of the country’s luxury real estate in the audiences outside of Greece that really count, and we have directed the attention of Ultra High Net Worth Individuals to the “diamonds” of Greek real estate. The direct result of this is that we achieve much higher returns every year for the sellers who trust us.”
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