The majority of potential foreign homebuyers in Greece originate from Israel, Turkey, Bulgaria, the United Kingdom, France and the Netherlands, according to the Berkshire Hathaway HomeServices European Summer Report 2024.

The report on the Greek market reveals properties are in high demand usually just before summer, as investors continue to consider the country as a good destination for purchasing real estate. As the number of tourist visits continues to increase, the desire for both high-quality holiday homes and rental properties is reinforced.

Topics covered in the analysis, which also focuses on the real estate markets of Italy, Spain, Portugal and the Untied Kingdom, include the path to residency in these countries, key considerations for homebuyers, and emerging locations to watch in the coming months.

The report offers insights and analysis about the real estate markets in these countries, citing initiatives such as the Golden Visa, and Digital Nomad Visa schemes, as key incentives for future homebuyers interested in moving to these locations. The primary criterion for buyers is to be located near the sea.

Potential homebuyers cite Greece’s idyllic beaches as the main attraction, while Portugal is a top choice due its global standing as one of the safest places in the world.

Kyriakos Xydis, the managing partner at Berkshire Hathaway HomeServices Athens Properties, noted that “..the Greek real estate market was significantly undervalued for many years, but in the last three to four years, it has become a magnet for investors, which has driven property prices up.”

He said that in 2022 the average increase in property prices was about 12%, and then in 2023, at roughly 13%, but buyers were unaffected as they continued to highly value Greece, a trend that is expected to continue.