Eldorado Airbnb in Greece - They are buying houses to rent them out.

The share of real estate purchased in Greece and used exclusively as short-term rentals is significantly higher than in other EU countries. According to a study by the European Commission, 41.5% of properties listed on short-term rental platforms were acquired solely for investment purposes. This percentage breaks down to 30.2% among those who own at least two properties, and 11.3% among those who own one property. In contrast, in other EU countries, these figures do not exceed 18.5%. This indicates a rise in direct foreign investment in real estate in Greece, which is contributing to an increase in demand.

Many foreign investors are attracted to the Greek real estate market due to the popularity and success of short-term rentals. The "golden visa" program for citizens of third countries has also contributed to the growth of foreign investments, which amounted to 2 billion euros in 2022.

By the way, the real estate market in Greece is showing strong dynamics, which, according to Alpha Bank, will continue in the future. Investments in housing have increased by 46.8% in the first half of this year compared to last year. The construction index has risen by 16.8% compared to last year. This indicates a recovery in the real estate market that began in 2018, with an increase in both real estate investments and building permits.

Housing prices continue to rise, surpassing 7 consecutive quarters of double-digit growth. In the second quarter of this year, prices increased by 13.9% compared to last year. It is forecasted that real estate prices will continue to rise, supported by an increase in demand for living space.