Over 50% of Properties Sold in Halkidiki Go to Foreign Investors

George Tsigaras co-owner of Halkidiki Properties during a press conference on Jan.23 stated that more than half of the properties up for sale in Halkidiki go to foreign buyers, with citizens from the neighboring Bulgaria being first on the list of investors in the area.

As emphasized by Tsigaras the Bulgarians are the big spenders with investors from Israel seeking to purchase lower priced properties with aim to renovate and sell at a higher price making a lucrative profit. Simultaneously, the Israelis are interested in deals regarding hotels for sale.

The Serbs, who are second on the list, primarily purchase small houses ranging from 60 to 70 thousand euros, as do buyers from North Macedonia.

As for Bulgarian and Romanian investors, they seek 60% to 70% of residences priced up to 150,000 euros. Additionally, 12% to 15% are in search of properties worth 1 million euros, while the remaining percentage can spend up to 500,000 euros.

While German buyers as Tsigaras mentioned are mainly retirees interested in purchasing a small holiday home, on a low budget.

Finally, concerning tourist infrastructure, according to Mr. Tsigaras, there are dozens of facilities currently up for sale. The interest of foreign investors primarily focuses on existing hotel complexes, which will require reconstruction but without necessitating lengthy delays.