With desperate efforts and many times under conditions of panic, terror and horror caused by the war, Israelis are looking for shelter in short term rentals in Greece.
They are mainly looking for temporary shelter for their families – women and children – , away from their homeland, away from the war zone.
Greece and Cyprus, the friendly countries
After all, the Israelis feel that Greece is one of the nearby and at the same time friendly countries. They feel the same about Cyprus.
It is no coincidence that in recent years more and more Israelis have chosen Greece for their holidays.
The Israelis had even climbed into the top 5 of customers for the domestic tourism industry, along with the Americans.
It is indicative that in 2022 a historical record of arrivals from Israel to Greece was recorded, reaching 722,549 visitors
In fact, in Thessaloniki, 11% of overnight stays are from Israelis. So for many of them it is a country they know. However, this time are not coming to experience the Greek summer but are forced to leave their country one by one due to the war
Real estate in Greece
According to market players speaking to OT, Israelis coming to Greece are looking to find some property through short-term rental as they do not know how long they will need to stay to be safe from the war.
They even prefer these properties over hotels as it is a solution for accommodation at a lower cost. At the same time real estate sales contracts with Israelis that were to proceed in the coming days are canceled one after the other or put on hold until further notice
Airbnb haven
Mr. Giorgos Kanellopoulos, a member of the Board of Directors of STAMA (an association of short-term rental companies) told OT: “It is a fact that since last week we have had cancellations from Israelis who had long booked some of our properties for their holidays and apparently as they are in the midst of war they cannot come. On the other hand, at the same time, there is an increased demand for Airbnb-style properties from people looking for refuge in Athens, away from the war.”
Most of them are looking, as Mr. Kannelopoulos tells us, for a property in the center of Athens. Still other Israelis were found by the war on vacation in another country and are using Athens as a stopover and staying in some property (airbnb) until they see what will happen.
Mr. Kanellopoulos mentions a typical case of a couple who were in Italy when the first attack by Hamas took place. “They found refuge in Athens by renting an apartment through a short-term lease until they see what they will do.”
The president of the European Union of Real Estate Agents, Kosmas Theodoridis, conveys the same picture. “Just a while ago I received another call from my Israeli client asking me if an area in Athens where he found a short-term rental house is safe for him to send his wife and children to”
Cancelled contracts
The Israelis have been flooding the Greek real estate for a long time, buying one property after another as Greece has low attractive prices compared to Israel but there is also the incentive of the Golden Visa as a result they show until a few days ago (before the war) strong interest in purchasing real estate in the center of Athens but also in the Southern Suburbs.
As the president of the European Union of Real Estate Agents, Kosmas Theodoridis reports, in recent days contracts for the purchase of real estate have been canceled one after the other: “For example, I had a very large contract canceled for a property that would have been bought by an Israeli investor, but as he informed me, he was just recruited. Some have already been drafted and some are waiting, but even if someone is not drafted and is safe away from the war, it is difficult for someone to proceed with an investment during wartime” explains Mr. Theodoridis.
Latest News
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year