Greece’s residential property market holds strong appeal for German buyers
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Loading... - Laoise Hogan
- 09 Feb 2023
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Greek premier real estate brand Elxis identifies Greece as an excellent value proposition for German property buyers
Premier real estate firm Elxis announced that Greece continues to be an attractive destination for international property investors following a seven-year housing boom. Germans are the leading investors, followed by the Dutch and the British. According to Giorgos Gavriilidis, CEO of Elxis, increases in German interest rates are making it more challenging for German investors to secure loans to purchase real estate in their home market, leading them to seek value abroad.
“In Germany, even if investors are ready to invest EUR 200,000 of their own funds, they still need to get a loan to afford a small property whereas, in Greece, it’s still possible to purchase a new two-bedroom villa with a sea view and a private pool for little more than this, completely mortgage-free. This is why Greece continues to be a very desirable destination for German property buyers,” said Gavriilidis.
According to the latest figures from the GlobalPropertyGuide, Greek house prices continue to rise strongly amidst increasing demand from foreign buyers and continued economic growth in the country. In Greece’s urban areas, house prices rose above inflation, registering 11.32% during the year to the third quarter of 2022, buoyed by foreign investor interest. German buyers continue to express significant interest, driven by a combination of factors, including the country’s low cost of living and the abundance of beautiful properties by the sea, which are available at very affordable prices.
Gavriilidis notes, “Greece’s rich cultural heritage, excellent weather, and the convenient European location make it an idyllic destination all year around, and these are just some of the more prominent reasons why Greece is such a popular destination for German property investors." Elxis is committed to helping these buyers find the perfect property that meets their needs and fits their budget, with a team of native German speakers and an in-house legal team to ensure effortless execution. Read More…
