Greek Property Purchases Soared in 2024 from EU Nationals – The Areas They Choose

Foreign buyers are increasingly seeking holiday homes with gardens and swimming pools in regions such as Crete, Rhodes, and the Ionian Islands. Coastal properties on the islands and along the shores of the Peloponnese are gaining prominence, particularly in areas supported by infrastructure such as airports and national road networks.

Among individual countries, Germany leads with purchases amounting to €162 million, up 16%, followed by the Netherlands with €96 million—double the previous year’s figure. French buyers also significantly increased their investments, spending €77 million in 2024, a rise of 79%.

The trend is expected to continue in 2025, which is projected to be another year of strong growth in the acquisition of holiday homes across Greece by European buyers. Data from Elxis—At Home in Greece shows that sales in the first four months of 2025 (January–April) have maintained the upward momentum seen in 2024. Belgium, the Netherlands, and Germany have emerged as particularly active markets. According to George Gavriilidis, CEO of Elxis, sales to Dutch buyers rose by 91%, to Belgians by 103%, and to Germans—among whom Greek expatriates are also included—by 64% over the same period last year.

The Dutch are currently the most active investors in Greek property, followed closely by the Belgians. Gavriilidis notes that earlier forecasts predicting that the recovery of property prices in the wider European market would benefit Greece’s holiday home sector are being confirmed. He emphasizes that demand and new investment activity have seen a significant boost, attributing this to the stark price difference between Greece and other European markets. For instance, a newly built three-bedroom villa in Crete with high energy efficiency, a garden, and a pool costs around €350,000, while a modest 80-square-meter apartment in Amsterdam could cost between €700,000 and €800,000.

According to Elxis, most buyers are looking for holiday homes priced between €250,000 and €600,000, with the majority of transactions clustering in the €350,000 to €450,000 range.

Dutch and Belgian buyers are the majority of about 50% from Northwestern Europe, who use their properties as rentals when not in use.

In contrast, German and French buyers tend to purchase with personal use in mind, although some are also interested in short-term rental opportunities.

Buyers from Northwestern Europe, including the Dutch, Belgians, Germans, Swiss, and French, typically prefer acquiring homes in Crete, the Ionian Islands, the Peloponnese, and Rhodes. Some also turn to the Cyclades in search of attractive investment opportunities.

Source: tovima.com