Greece Emerges as a Top Destination for Luxury Real Estate

Greece is increasingly becoming one of the top destinations for luxury real estate, with growing interest from foreign investors, according to recent data from Net World Wealth.

The country ranks among the top ten globally for projected net inflows of millionaires in 2024, securing the eighth position. The UAE tops the list, followed by the United States.

Residential properties are the dominant sector, with the predicted volume reaching $1.34 trillion by 2025, according to Statista.

Greece’s appeal is driven by its competitive pricing compared to other luxury markets, such as the French and Italian Rivieras.

While the Athens Riviera, Mykonos, and Crete remain sought-after locations for luxury real estate, new areas are beginning to capture investors’ attention.

Evia, the country’s second largest island, is gaining popularity due to its affordable property prices, stunning natural beauty, and easy accessibility.

Similarly, Lefkada, in the Ionian Sea, stands out as an emerging investment destination, being one of the few Greek islands that can be reached by car without the need for a ferry connection. As a rising tourist hotspot, Lefkada offers strong potential for capital appreciation and long-term returns.

According to Korina Saia, Managing Director of Premier Realty Greece, the rental yields for luxury properties in Greece are exceptionally competitive, with high-end villas and apartments in tourist areas commanding impressive rental rates. Greece also offers unique locations, like the Athens Riviera and its islands that provide an unmatched quality of life.

Additionally, the Greek government has implemented policies favorable to investment, offering tax incentives to those looking to invest in luxury real estate.

Property prices are steadily rising, with certain prime areas seeing annual increases exceeding 10%. For instance, the Athens Riviera saw an 8% increase in property prices in 2024.

Luxury property buyers are increasingly demanding homes that combine exclusivity, privacy, and proximity to top-tier amenities like schools, hospitals, and marinas.

Sustainable construction and eco-friendly features are now priorities, with buyers also placing a premium on high-level security, unique architectural design, and the use of top-quality materials.