Latest Survey Has Athens Surging in Terms of Property Demand

Greece’s property market continues to attract heightened demand by both local and foreign buyers, despite recent negative geopolitical developments and a general uncertainty in the global economy.

According to officials from Barnes International Reality this week, Athens posted the second biggest increase in terms of attractive destinations for buying property. On its international+ list, Barnes the Greek capital in 16th place, ahead of cities such as Zurich, Dallas, Singapore and Stockholm.

Madrid tops the list, followed by Dubai, Miami, Monaco and Milan, the favorites of high-end buyers.

Barnes cites tax breaks and lower prices – compared to rival European markets. For instance, the company said a square meter of property space in the central Athens high district of Kolonaki costs roughly 8,000 euros, when the average price in other European countries is 30,000 euros, and up to 100,000 in Monaco.

In terms of the nationalities of foreign buyers of Greek real estate, Barnes pointed to west and central Europe, particularly Germany and Switzerland, along with citizens of Turkey, Israel, Lebanon and Egypt.

In fact, the company said purchase by Israelis and Lebanese have continued unabated, even amid the ongoing conflict between Israel and Iran.

Barnes is active in 22 countries with 140 offices.