Foreign investors have started to enter the Greek real estate market dynamically, as demand has increased by 25% compared to 2018
The Chinese seem to still have a long way to go to be a potential investor, as they are in fifth place, though figures from Golden Visa prove their rising interest.
The most popular areas to look for in are Tinos, Kifissia and Glyfada
The Americans are looking for real estate mainly in Santorini, Glyfada and Mykonos. Similarly, the Germans are more interested in the real estate market in northern Greece, focusing on the center of Thessaloniki, Kalamaria and Kavala.
The English are focusing their search on Rhodes, Glyfada and Kolonaki, while the Dutch are moving more towards short-term leasing, choosing the areas of Pagrati, Metz-Kalimarmaro and Neos Kosmos. The French are interested in real estate in Paros and Syros, but also in the wider area of Kolonaki and Lycabettus.
The profile of the Chinese buyer
Market executives say the Chinese are primarily targeting real estate that can be registered directly on short-term rental platforms to take advantage of the apartment while not living in Greece.
They choose areas of the Athenian Riviera and the Municipality of Athens as well as the high end Municipalities, in Northern Attica, looking for properties that are up to 700 € / sqm and in need of renovation.
There are many cases where they buy property in Greece much lower than the 250,000 € and resell it to other Chinese investors for much higher price, by simply making a basic renovation.
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