Here's how to shorten the title without the comments:Real Estate in Attica: The Situation with Israelis - Economic Courier

Assets in Greece, especially in Attica, continue to attract foreign buyers, and it is no coincidence that capital amounting to some €1.102 billion flowed from abroad to the domestic market in the first half of 2023, resulting in a nearly 40% year-on-year increase, according to the latest

The armed conflict between Israel and Hamas in the local real estate market raises questions about how Israelis will fare in the future, as they are one of the most popular nationalities of foreign property buyers in Greece, especially in Attica. It is too early to draw conclusions, says Lefteris Potamianos, chairman of the Attica Real Estate Association. Nevertheless, he notes that during the war last week, two significant real estate contracts were signed in Athens, one by an Israeli and the other by a Lebanese. One of these contracts, worth €1 million, concerns the purchase of a plot of land in Neos Kosmos where an apartment building for commercial use will be built. At the same time, negotiations for the purchase of three different properties were frozen due to the involvement of the Israelis.

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In the medium term, the war could create a new upswing in real estate demand. As Spiros Papayannakis, CEO of Mapei Hellas, a subsidiary of the Italian building materials giant, said recently, the military conflict could boost construction activity, as there is strong interest from Israelis and Lebanese to buy residential properties in Cyprus and Greece.

4 nationalities playing a major role

The interest of Israelis is reflected in Spitogatos Insights data regarding real estate searches during the third quarter of 2023. In more detail, the center of Athens is dominated by Americans, with the British in second place and Israelis in third place. In the third quarter, the average sale price of housing in central Athens rose 14.4% year-on-year to €2,000 per square meter in 2022. The largest number of requests to buy property comes from the United States, while a 14% increase was registered for the southern suburbs of Attica, where prices in the third quarter, according to Spitogatos, amounted to 3,611 euros per square meter, up 14% from 2022 (3,167). In second place in the southern suburbs of Athens are potential buyers from the UK, with Germans in third place.