'Oriental villas: 3 million investors looking for real estate in Greece - Why do foreigners prefer it?'
'that in Greece the average price of a new country house is around 300,000-350,000 euros, makes it an ideal destination for European investors. In his research, George Gavriilidis, CEO of Elxis, points out that as a result of the increase in interest rates, there has been a loss of interest among our clients in bank loans for the purchase of a country house. This is because the interest on a loan of 4% to 5% essentially zeroes out the income an investor can earn by operating the country house they buy. According to him, this trend means that investors coming from Western and Northern European countries such as Germany, Holland, Belgium, France, UK, Austria and Switzerland now prefer to use only their''s savings for the purchase of country property, and in particular in Greece. This gives them a fourfold advantage, says Elxis in its analysis.
27 February
19
The attractiveness of the Greek market for investors"There is a lot of value hidden in Greek country houses, as compared to other markets, a person can buy a house close to the sea or overlooking it, with a swimming pool and all amenities, spending a relatively small amount of money," says George Gavriilidis. He also''adds that according to estimates based on research, there are currently approximately 3 million citizens from Western Europe who are planning to invest an amount of around 300,000 - 350,000 euros for use and own use. Therefore, the Greek market is becoming particularly "hot" among foreign buyers, which is also reflected in the preferences of tourists, which certainly contributes to the countryside real estate market. The combination of advantages offered makes it increasingly attractive to investors.
The changing real estate market"The market has also clearly changed in recent years from a buyers' market to a sellers' market, especially for new apartments. Whereas 10 years ago we saw buyers picking out properties, now for''Some projects we have a waiting list of interested parties who are waiting for the announcement of the next project,' concludes Georgios Gavriilidis.
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"There is a lot of value hidden in Greek country houses, as compared to other markets, a person can buy a house close to the sea or overlooking it, with a swimming pool and all amenities, spending a relatively small amount of money," says George Gavriilidis. He also''adds that according to estimates based on research, there are currently approximately 3 million citizens from Western Europe who are planning to invest an amount of around 300,000 - 350,000 euros for use and own use. Therefore, the Greek market is becoming particularly "hot" among foreign buyers, which is also reflected in the preferences of tourists, which certainly contributes to the countryside real estate market. The combination of advantages offered makes it increasingly attractive to investors.
The changing real estate market"The market has also clearly changed in recent years from a buyers' market to a sellers' market, especially for new apartments. Whereas 10 years ago we saw buyers picking out properties, now for''Some projects we have a waiting list of interested parties who are waiting for the announcement of the next project,' concludes Georgios Gavriilidis.
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"The market has also clearly changed in recent years from a buyers' market to a sellers' market, especially for new apartments. Whereas 10 years ago we saw buyers picking out properties, now for''Some projects we have a waiting list of interested parties who are waiting for the announcement of the next project,' concludes Georgios Gavriilidis.
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27 February
19
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