The peak tourist season in Greece in 2022 is earlier than in previous years. This year, Greek holiday homes have once again become the focus of attention. According to statistics, about 33% of Greeks own a second home, but the interest of foreign investors is still growing.
So, where are the most popular destinations to buy a house in Greece? What is the average selling price per square meter? How does the first quarter of 2022 compare to 2021?
The decisive criterion for potential buyers remains distance from the capital of Athens. It is worth mentioning that investors have undiminished interest in Corinthian resorts such as Loutraki, Agioi Theodoroi or Xylokastro. Destinations that continue to be popular with overseas investors include Nafplio, Aegina and Chalkida.
In terms of price, the average selling price of a property in a tourist destination has risen to 1,787 euros/sqm. The above areas start at 1,682 euros/m2. In the first quarter of 2021, house prices increased by 7.04% overall. Of course, it is worth noting that the price of Aegina is as high as 2,386 euros / square meter. The average has been significantly raised, while attica is at a more average level in terms of house prices in the islands of Tinos and Corfu.
Away from the popular areas of Attica
Magnesia, Messinia and Halkidiki are currently the more stable investment interest destinations for overseas investors, and the price trend is obvious. The most notable finding was that the average selling price of Halkidiki increased by 18.04%, reaching a price of 2,251 euros / square meter. The wider region of Messinia is also moving upwards, with the average selling price per square meter rising from €1,708 to an average of €1,738.
Luxury island
Popular islands that have always been popular with investors, such as Santorini, Mykonos and Paros, are more pronounced in the upward trend of house prices.
More specifically, despite the upward trend in average sales prices, these islands have remained high in terms of data on overseas investors looking for holiday homes. For example, in Santorini, the sale price per square meter increased by 9.27%. Up to 4,848 euros. Mykonos, on the other hand, rose 10.97% to 6,496 euros/m2, while Paros rose 11.61% to €3,625/m2.
It can be said that although the housing prices of Greece's popular islands have always been high, they have never been able to stop the enthusiasm of overseas investors.
The price of the island is unchanged
Tinos, Rhodes, Corfu and Syros are islands that have not recorded significant price changes, and while they remain high in overseas investor buying preferences, this does not mean that the average selling price on these islands will be low. Tinos reached 2,183 euros /square meter, Rhode Island real estate reached 1,667 euros/square meter, and Corfu also reached 2,352 euros/square meter.
In Syros, there was a slight increase from 1,727 euros/square meter to 1,796 euros/square meter. The average selling price in Chania increased by 9.17%, from 1,865 euros/sqm to 2,036 euros/sqm.
At present, the upward trend of public interest in holiday homes and sales prices related to 2021 is established. While most Chinese investors still prefer property in the capital' Athens area, investors from other countries prefer holiday home properties on Greek islands. After all, the average price of holiday homes on the island has risen again, and the average price in several popular areas of Athens is still low. As a tourist real estate, the return on investment is very high. So buying a property on a Greek island has now become quite a popular investment option.