Demand for real estate on Greek islands “skyrockets”

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International buyers, especially from Central European countries, continue to invest in second homes in Greece. Interest in properties in Crete, Corfu, other islands and the coastal areas of the Peloponnese has remained very high, says Odia.

Demand for real estate on the Greek Islands has “skyrocketed” over the past year with foreign buyers coming mainly from Central Europe, said Sven Odia, CEO of Engel & Volkers.

While the stay trend remains strong, a second home in a Mediterranean destination offers homeowners the opportunity to escape the city and spend some quality time in nature amid the lingering uncertainty resulting from the pandemic.

“International buyers, in particular of central Europe countries, continue to invest in second homes in Greece. Interest in properties in Crete, Corfu, other islands and the coastal areas of the Peloponnese has remained very high, ”says Odia.

“The exclusive villas near the white sandy beaches are particularly popular on Mykonos, Paros and Rhodes. A detached house can cost up to 8 million euros in Paros and 4 million euros in Rhodes. Apartments in the most privileged areas of Rhodes reach a maximum of 6,000 euros per square meter. Prices should remain stable throughout 2021, ”he adds.

Engel & Volkers goes on to point out that the demand for a house is also strong on the French Riviera, as well as in Spain and Portugal. It is also pointed out that holiday homes in the North Sea are increasingly attractive to Germans.

spanish islands

The demand for second homes in Spain has increased steadily throughout 2020 and 2021. International buyers from Northern and Central Europe continue to show great interest in properties in the Balearic Islands and the Canary Islands.

Mallorca remains one of the most sought after islands, with German customers represent 63% of purchases, followed by the British (12%), Scandinavians (6%) and Swiss (3%).

The island’s capital is benefiting from significant investments in modernization projects, as well as the realization of more environmentally friendly mobility concepts. This reinforces the general appeal of Palma de Mallorca, especially among clients looking for a sustainable home in the Mediterranean with long-term potential and a high quality of life.

Portugal

Lisbon has also seen a significant increase in demand for residential properties since the start of the pandemic. 65% of investors in Lisbon are Portuguese, while the remaining 35% are international buyers from France, UK, Brazil, Germany and China.

Lisbon’s pleasant climate makes it ideal for anyone looking for properties with a balcony or garden. Prices remain moderate compared to other European cities, and government investment incentives like the “Golden Visa” attract foreign buyers.

French Riviera

the French Riviera is known for its high-end real estate and quaint coastal villages. The number of properties in the area being extremely limited, the French Riviera has established itself as an exclusive destination for wealthy Parisian customers and international buyers. Most cross-border buyers come from Italy, Belgium, Switzerland and Germany. About 50 percent of buyers in Cannes are foreigners, while the percentage of foreign buyers in Cannes. Saint-Jean-Cap-Ferrat is almost 75%.

Going on vacation to Germany

The North Sea also offers attractive islands for those looking to buy a second home in a peaceful waterfront location. The East Frisian and North Frisian Islands off the North Sea coast never cease to impress. Sylt, for example, is one of the places with the highest real estate prices in Germany. A detached house can cost up to 15 million euros. Anyone looking to buy a vacation home on the islands can pay as much as 19,000 euros per square meter. Since the summer of 2020, the demand for these properties has never been higher.

The demand in Schleswig-Holstein is so high that it is becoming increasingly difficult to find available properties. Real estate prices have been rising steadily in Tegernsee since the pandemic began in 2020. The highest prices for upscale vacation homes can reach up to 20 millions of euros. Holiday homes in Germany are increasingly popular with young buyers.

Stelios Bouras



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