Luxury homes in Greece: changes in the real estate market - construction sites and buyers

The Greek market is starting to enter the map of the global market of luxury branded residences, which is at the same time becoming a center of attraction for international luxury brands that see significant prospects in our country in this field.

There are currently more than 1,000 premium residences (villas, houses, apartments) in various areas, from Pylon, Glyfada, Hellinnikos and Elounda to Gia, Megalonissos in South Evia, Etoloakarnania and the center of Athens, either already under construction or planned for development in the next 3-6 years.

Big prospects Sale prices start from 500-800 thousand euros for apartments and can reach 12-14 million euros for unique 7-bedroom villas (1,000 square meters) by the sea. At the same time demand''is proving to be higher than expected, despite the fact that the supply of this "product" in the Greek market is considered to be short-lived, but it has great prospects. Moreover, as Ms. Alexandra Yao, Vice President and Head of Branded Residences at InterContinental Hotels Group, emphasizes, the market for branded residences in Europe will continue to develop, probably concentrating on resorts and holiday destinations in Portugal, Turkey, France, Italy and Greece.

The Costa Navarino TEMES continues its development with Costa Navarino Residences, whose buyer audience is divided equally between Greeks and foreigners. There are 4 different neighborhoods in Costa Navarino: Sea Dunes, Olive Grove, Rolling Greens, Valley Greens with more than 100 residences that are already 90% sold. As far as residential properties are concerned,''Six Senses Porto Heli hotel in Porto Heli in 2026, with 60 rooms and suites, as well as the construction of 10 branded 5 to 8-bedroom villas for sale.

Glyfada, Tsia, Vonitsa The One&Only Kea Island in Tsia will open in April 2024. The new 5-star hotel will have 75 villas and a limited number, up to 40, of One&Only Private Homes branded residences available for sale. Earlier in October, the One&Only Aesthesis luxury resort in Glyfada, on the former Asterias, is scheduled to begin operations. The resort, being developed by Grivalia Hospitality, will include 95 bungalows as well as 18 residences, 2 villas and 14 One & Only Private Homes residences. A new ultra' is expected to open in April 2026'Varko Bay luxury resort in Vonitsa. The business plan calls for the construction of a 116-room hotel and the development of 45 branded residences for sale.