Turn to the cheapest holiday homes real estate that they can find in Greece, in relation to their countries of origin, more and more people are doing this year foreign buyers. According to a relevant research carried out by Elxis companywhich specializes in the sale and management of holiday homes, during the period from the beginning of 2023 until mid-October, 18% more holiday homes have been sold compared to the whole of 2022. At the same time, the average sale price is 12.5% higher in than last year.
Thus, the total value of transactions carried out through the company is 33% higher and while there are still more than two months left for the completion of 2023. According to Elxis estimates, 2023 is expected to end with a total annual increase of 25% based on the number of holiday homes to be sold and 45% based on their value. This means that more and more expensive properties will be sold than in 2022.
A holiday home in the Netherlands has now cost 600,000 euros, when in Greece it costs half the money.
As Giorgos Gavrielidis explains to “K”., managing director of Elxis, “a holiday home in the Netherlands, which is a market we follow closely because our company is based in Utrecht, has now reached €600,000. A property of the same quality in Greece costs about half the money, making it an important lure for foreign buyers. In fact, the fact that prices in the Greek market continue to rise, acts as another advantage”.
This is also the reason why, according to Elxis, from this spring onwards there has been a significant increase in the purchases of holiday homes by foreigners (compared to last year), but also an increase in their preference for more and more expensive and quality properties. Buyers evaluate these properties, which are newly built, with a private pool and a modern aesthetic and certainly high energy efficiency, as a significant investment opportunity, especially when comparing the prices with the country of origin. According to Mr. Gavrielidis, “although in countries such as Germany and the Netherlands sales prices are falling, they are still much higher than the corresponding prices in Greece, where a modern country house can be sold for 250,000-300,000 euros instead. Now we even see several purchases at higher prices, up to 500,000 euros”, says Mr. Gavrielidis. “At a time when a parking space in the center of Amsterdam can cost up to 250,000 euros and a holiday home made from an old container up to 300,000 euros, many of our customers prefer to invest their money in Greece and buy something much better, staying in the rental in the country where they live permanently”.
