Why did Greece attract tourists and real estate buyers in 2014?

Growth of Tourism in Greece

In 2014, the number of tourists visiting Greece increased by 22% compared to the previous year. This indicates a growing interest among foreigners in this sunny country. Many of them are starting to consider purchasing real estate for both permanent residence and vacation purposes.

Investments in Real Estate

In the first half of 2022, foreign investments in Greek real estate amounted to 117 million euros, which is double the amount from the previous year. One of the factors contributing to this growth is the affordability of housing, which has decreased by almost 30% over the past six years.

Investor Attraction Factors

A multitude of factors is driving investors and tourists towards the Greek real estate market:

• Attractive climate
• Picturesque natural landscapes
• The friendliness of the locals
• Reasonable housing prices
• Magnificent local cuisine
• Rich cultural heritage

Popular Regional Destinations

Favorite destinations for tourists and real estate buyers include places such as:

• Athens
• Crete
• Corfu
• Cyclades
• Rhodes
• Halkidiki
• Mykonos

Attica: The Center of Greece

Attica is considered the center of Greece and the most densely populated region of the country, where the capital, Athens, is located, as well as the largest port in the Mediterranean, Piraeus. Near Athens is the "Athenian Riviera," known for its picturesque resort towns.

Real estate on the Athens Riviera

In communities such as Kavouri, Voule, Vouliagmeni, Lagkonissi and Anavassos, you can buy both luxury villas and modern apartments in residential complexes by the sea.

Prices for apartments in these resort areas start from 50,000 to 70,000 euros and can reach 300,000 to 400,000 euros. As for country houses, their prices start at 100,000 euros.

Cape Sounion

In the southern part of Attica lies Cape Sounion, which offers stunning views of the surrounding nature. Many come here to admire the magnificent sunset. Around the town of Sounion, there are numerous luxury villas, with prices ranging from 3 to 5 million euros.

The Charm of Small Towns

In the northeastern part of Attica, just 20 kilometers from the international airport and half an hour from the capital, are three atmospheric and small towns:

• Porto Rafti
• Rafina
• Nea Makri

These places offer a high quality of life, convenient transportation infrastructure, stunning landscapes, and a variety of real estate options to suit every taste and budget.

Modern Athens

Modern Athens is a picturesque metropolis steeped in history. It is a vibrant, bustling, and noisy city where ancient grandeur intertwines with everyday life. Every day, its streets are filled with tourists eager to see famous landmarks such as:

• Parthenon
• Acropolis
• The Theatre of Dionysus
• Temple of Olympian Zeus
• Agora
• Wind Tower

Real estate prices in Athens

The average price of real estate in Athens ranges from 500 to 1500 euros per square meter. In central areas, you can find compact studios in good locations priced between 30,000 and 40,000 euros. More spacious apartments offering 2-3 rooms and located near shops and cultural landmarks can cost between 80,000 and 150,000 euros.

In general, purchasing real estate in Greece is becoming increasingly attractive for foreign investors, making this market relevant to consider in the context of a stable and profitable investment.

Residential stock in the city center

In the city center, most of the residential buildings were built a long time ago, while new constructions are predominantly located on the outskirts.

In the suburbs, the price range for multi-apartment villas can reach several million euros.

The most prestigious and highly valued areas are the central districts, such as Kifisia, Ekali, Marousi, and Kolonaki. This is where you'll find trendy shops, the best restaurants, and cultural institutions.

The architectural style of buildings in these areas is often classical, which gives them a unique charm.

Popular neighborhoods in southern Athens

In the south of Athens are popular areas such as Glyfada, Paleo-Faliro and Alimos. Here the cost of housing in prestigious areas ranges fromthreetosix thousand eurosper square meter.

Thessaloniki: the second largest city in Greece

Thessaloniki, the second largest city in Greece, is renowned for its population of over a million residents. This city boasts a strong industrial infrastructure, is home to the largest university in the country, and features numerous churches and temples that are part of the UNESCO World Heritage list, as well as more than ten museums.

Thessaloniki is known for its archaeological discoveries; fragments of ancient structures have been found in the courtyards of modern buildings. The city carefully preserves its unique historical heritage, among its attractions:

• Triumphal Arch
• The tomb of Emperor Galerius
• Rotunda of Saint George
• Byzantine fortresses surrounding the area of Ano Poli (Upper Town)

Cultural events in Thessaloniki

Cultural events are regularly held in Thessaloniki, such as:

• Theater premieres
• Open-air movie screenings in the summer
• International film festival that takes place in November

As in any big city, young people can enjoy a variety of entertainment; along the waterfront, there are many bars and cafes. At night, the streets between Singru and Valaoritu become popular with tourists looking to have a great time.

The nearest beaches to Thessaloniki

The closest beaches to Thessaloniki are located in the suburbs of Epanomi, Agia Triada and Michagnona. In summer, these beaches are filled with tourists seeking a vacation on the coast.

Although the most beautiful and clean beaches are located on the Halkidiki Peninsula, they can be reached in30 minutes is one and a half hours.depending on the final destination of the route.

Real estate in Thessaloniki

You can buy an apartment in Thessaloniki starting from20 thousand euros...and houses start from100,000 to 130,000 euros. Kalamaria is considered the most prestigious and expensive area of the city, where prices for apartments in new buildings range from .1,500 to 2,500 eurosper square meter.

Most villas are located outside the city limits, where there is access to the beach. Those who love tranquility can choose homes with large plots of land up to10 hectaresThe prices for two- or three-story cottages can reach several million euros.

Panorama is the most famous suburb with luxury real estate and developed infrastructure.

Real estate prices

The prices for real estate in the residential sector of this beautiful island range from 2,500 to 4,000 euros per square meter.

Why should you choose Crete?

Crete is an exceptional Greek island, rich in natural resources and boasting a developed social infrastructure. It is famous for its long tourist season, which spans from mid-April to the end of October. Despite the winter period, vacationing in Crete remains appealing due to the presence of ski resorts.

Popular types of housing

The most popular are houses with two or three bedrooms, the cost of which ranges from 150 to 200 thousand euros. In the case of buying a villa with four bedrooms and a swimming pool, the price will be from 300 to 500 thousand euros. Interest in real estate in Crete is consistently high among buyers.

Relief and nature

The island's terrain is mostly mountainous, with about 60% of the area covered by hills and mountains. This creates excellent opportunities for finding secluded villas in the mountainous regions, offering stunning sea views.

Agriculture and cuisine

It's interesting that there is little industry in Crete, and more than 50% of the land is allocated for agriculture, where olives, grapes, and oranges are grown. The local cuisine is known for its healthy ingredients, which makes it quite popular both in Greece and beyond.

The hospitality of the local residents

The islanders are renowned for their hospitality and welcome.

Calmness and tranquility

Crete is a source of tranquility and peace, far removed from the hustle and bustle of megacities. Marketing manager Maria Alkhazova shares her thoughts in her travel report about Greece: “At first, it felt unusual to me because the island seemed very quiet, and there were not many people here. After the hectic life in Moscow, it took me a while to get used to this calm environment.”

Popularity among tourists

The island attracts not only tourists but also international vacationers, as it is home to nearly 25% of all hotels in Greece. The northern part of the island is the most popular, but even there, you can find secluded spots, such as Voulisma Beach on the Akrotiri Peninsula.

Main regions of Crete

Crete is divided into four main regions:

• Heraklion
• Hania
• Rethymno
• Lassity

Heraklion and Chania

Heraklion and Chania have international airports, making these places convenient for travelers. In the heart of Crete, Heraklion is home to famous resorts such as Hersonissos, known for its evening entertainment, as well as Malia and Amoudara with their beautiful beaches.

Real estate prices in Agios Nikolaos

In Agios Nikolaos, prices for new housing start at 1500 and can reach up to 2000 euros per square meter in the coastal area.

Apartments in buildings constructed about ten years ago in the city center are valued in the range of 1200–1400 euros per square meter.

In the west of Crete is the only freshwater body of water on the island, Lake Rethymno.

Architectural styles and cultural influence

The architectural styles of this region are diverse and have developed under the influence of various cultures: Venetian, Ottoman, and European.

Due to its proximity to the university, there is a significant influx of young people in Rethymno.

Most residential properties in the city center were built quite a long time ago, and their prices range from 1000 to 1500 euros per square meter.

A brief overview of Chania

The city of Chania, the administrative center of the eponymous region, is famous for its archaeological museum with a rich collection of artifacts, as well as the ancient Venetian fortress.

This area is home to the Lefka Ori National Park, which includes the famous Samaria and Imbros gorges, as well as a beach with stunning pink sand — Elafonissi.

In Chania, most residential buildings were constructed 25-30 years ago, and their price ranges from 1000 to 1300 euros per square meter.

New constructions are valued at 1800–2000 euros per square meter.

Villa rentals in Crete

Currently, there are about 121 villa rental listings available in Crete, with prices starting at 20,000 euros per week.

• New villa with a private beach in Erunde, 430 square meters, 5 bedrooms, rental price 15,000 euros per week.
• Luxury residence in Chania, private beach, 400 square meters, 7 bedrooms, price 4,300 euros per week.
• Spacious villa by the sea in Ierapetra with swimming pool, area 300 square meters, plot 1500 square meters, rent 4,200 euros per week.
• Two-story villa with a pool and garden near Gurnes beach, 200 square meters in size, on a 400 square meter plot, rental price 9,100 euros per week.
• A completely new villa with access to a sandy beach in Hersonissos, with an area of 170 square meters and a plot of 1200 square meters, available for rent at 3,800 euros per week.
• Cozy villa in Erunde, just 50 meters from the beach, with an area of 180 square meters, 3 bedrooms, priced at 15,000 euros per week.
• Modern villa with access to a private beach in Erunde, 450 square meters in size, on a 2000 square meter plot, rental price 9,200 euros per week.

Traditional villa in Akrotiri

A traditional luxury villa with a sea view is located in Akrotiri on Santorini and has a total area of 220 square meters on a plot of 6700 square meters.

Vacation on the Halkidiki Peninsula

The Halkidiki Peninsula is known for its beautiful sandy beaches, which are perfect for family vacations.

There are many small villages along the coast of the peninsula, creating excellent conditions for a peaceful and comfortable seaside vacation.

Natural and cultural attractions of Halkidiki

The Halkidiki Peninsula is famous not only for its stunning natural landscapes but also for its rich cultural and historical heritage. Here, you can find remarkable places such as the archaeological complex "Olinthos Museum," as well as the ancient settlements of Akanthos and Uranopolis. Equally fascinating is the Petralona Cave, where traces of ancient humans who lived on Earth thousands of years ago were discovered.

The geographical location of Halkidiki is unique: the peninsula, shaped like a hand, has three protruding "fingers" —Cassandra,SithoniaandAthos.

Cassandra: Life and Entertainment

Cassandra offers its guests a vibrant and rich life, especially after nightfall when the doors to numerous bars, restaurants, and nightclubs open. The best resorts for a young audience are:

• Callithea
• Pefkochori
• Hanioti

Life here is vibrant, and there's always fun to be had. At the same time, quieter villages like Nea Moudania, Nea Fokea, Nea Potidea, and Afytos offer a chance to relax and enjoy the atmosphere of Greek coziness and traditional living.

Thermal springs and accommodation prices

There are also thermal springs on the peninsula, for example, in the village.Saint ParaskeviThe prices for housing in this region are quite varied.

• Cottage 300 meters from the sea - from 60,000 to 150,000 euros;
• Three-level villas with land and a pool - from 2 to 4 million euros.

Sithonia: seclusion and beautiful views

Sithonia will be the perfect place for those who dream of a secluded getaway away from the hustle and bustle of the cities and wish to enjoy stunning natural views. The peninsula is adorned with dense pine forests and other greenery, creating an atmosphere conducive to restoring harmony with nature.

On its territory, there are numerous wild beaches in picturesque bays, where one can immerse themselves in silence and tranquility. Popular villages among tourists include:

• Vurvuru
• Neos Marmaras

They offer comfortable living conditions. The price for apartments in Sithonia starts from50 thousand eurosand the average cost per square meter is within the range of2,000 to 2,500 eurosHouses right by the sea can have a price starting from2 to 6 thousand eurosper square meter.

Athos: the spirit of monasticism

On the third "finger" of the peninsula - Athos, there is a unique monastic state.Aghion Oros(Holy Mount Athos). This sacred place is accessible only to men who have special permits to enter and serves as a spiritual center, attracting many pilgrims and seekers of solitude.

Ionian Islands: Natural Riches

The Ionian Islands are a group of seven major islands and many smaller ones, located in the southwest of Greece. The most famous among them are:

• Corfu
• Paxos
• Lefkada
• Ithaca
• Kefalonia
• Zakynthos
• Kitir

Kefalonia stands out as the largest of the islands, with mountain slopes covered in green pines and fertile lowlands where fruit trees grow. The island is known for its stunning natural attractions, such as the mountain.Enos, included in the list of nature reserves.

The cave lake is no less attractive.Melissaniwith bright blue water and a stalactite caveDrogariOn Kefalonia, there are many picturesque, uncrowded beaches marked with the "Blue Flag," such as:

• Makris Gialos
• Hi
• Petani
• Myrtos

Residential properties on this island are usually located away from the coast, providing their owners with the necessary privacy and tranquility.

Transport and housing on the islands

In the Greek islands, the transportation infrastructure leaves much to be desired, so having your own car is an important condition for comfortable travel.KefaloniaThe selection of real estate is modest, and luxury villas with high price tags are quite rare.

The nature of Zakynthos and Kefalonia

ZakynthosIn turn, it is famous for its picturesque landscapes, including the bright blue sea and lush green trees. This is the perfect destination for a family vacation, as it offers a calm atmosphere and the surrounding views are breathtakingly beautiful.

The islands delight not only with their diverse flora but also with their fauna, regularly encountering both wild and domestic animals. In Zakynthos and Kefalonia, the number of tourists from Russia is minimal; mainly, Greeks and Europeans vacation here.

The uniqueness of Lefkada

LefkadaIt is interesting because it is the only island that can be reached by car via a special floating bridge. At the foot of the majestic snow-white cliffs are beautiful beaches, among which the resorts of Nidri and Vasiliki are particularly popular.

Significant funds for the development of Lefkada were invested by Greek billionaire Aristotle Onassis, whose family still owns land in the surrounding areas of the island.

Corfu and its attractions

CorfuThe northernmost of the Ionian Islands, it is famous for its rich cultural heritage: the Achilleion Palace, the Temple of Poseidon, and the old fortress built in the 15th century attract hundreds of tourists.

The Italian influence is prominent in the architecture of the island, giving it a unique charm. Corfu also offers a well-developed tourist infrastructure, which includes:

• sports clubs
• diving centers
• a variety of restaurants

For example, in the northern part of the island, in the resort areas of Kassiopi and Sidari, you can experience a vibrant life, while in the south, in places like Vatos and Pelekas, there is tranquility and seclusion.

Housing prices in Corfu

The prices for housing in Corfu vary:

• Cottages and villas can cost from 150 to 200 thousand euros, reaching multi-million amounts.
• Apartments are available at prices ranging from 80,000 to 450,000 euros.

The main tourists in Corfu are the British. The most expensive residential properties are concentrated in the Kommeno area.

Aegean Islands: a variety of leisure activities

Aegean IslandsThey offer vacations for both party lovers and those seeking romance. The Aegean Sea includes several groups of islands, united into archipelagos:

• Northern Aegean Islands: Lesbos, Samos, Chios, and Thasos.
• Southern Aegean Islands: the Cyclades archipelago (including Tinos, Syros, Mykonos, Santorini, Paros, and Euboea) and the Dodecanese (where the most famous are Rhodes and Kos).

Life on the Aegean Islands

Although the Aegean Islands are picturesque, they are not always suitable for permanent living due to the lack of developed infrastructure on the smaller islands. The water temperature in the Aegean Sea is lower than in the Mediterranean, and the wind blows quite frequently here. This brings coolness on hot days, but the large waves can be a nuisance for swimming.

Mykonos: a resort for young people

MykonosIn turn, it has become a cult resort for youth from all over the world, and the beach parties continue non-stop, both day and night.

Conclusion

In conclusion, Greece continues to be one of the most attractive countries for tourists and real estate investors. The 22% increase in tourist arrivals in 2014 highlights how appealing its landscapes, culture, and friendly residents are. This sunny country is becoming increasingly popular among foreigners looking to purchase property for vacation or permanent residence.

I observe how changes in real estate prices and the increasing availability of housing are attracting more and more people. The decrease in prices for30%Over the past six years, new opportunities have opened up for those who want to invest in Greek real estate. The unique local climate and cuisine, along with the richness of cultural heritage, make Greece a true paradise for living and vacationing.

Why you should pay attention to Greece

• Attractive natural landscapes
• Friendly locals
• Affordable real estate prices
• Diversity of cultural heritage
• Climate and healthy cuisine

By purchasing property in places like Attica, Athens, or Thessaloniki, people gain not only comfortable living conditions but also the opportunity to enjoy stunning views and a unique atmosphere that nothing can replace. I see how the variety of options—from modern apartments in the city center to luxurious villas on the coast—allows everyone to choose a suitable option, regardless of their budget.

Prospects for real estate investments

Nevertheless, it is worth remembering that Greece's appeal is not limited to its natural beauty and historical monuments. It is a country where the pursuit of a quality life is combined with a rich history and culture, making it unique among other European destinations. I am confident that interest in real estate in Greece will only continue to grow, and anyone who spends even a few days here will understand why this country captures the hearts of millions.

Conclusions

Thus, if you dream of a sunny life by the sea, Greece could be the perfect place to make your plans a reality. Whether it's purchasing a second home for vacations or investing in the future, I sincerely recommend considering this incredibly attractive country.