Foreign investors are becoming more and more interested in real estate Greece properties. This property news has sparked interest among many media corporations who have noticed this rising trend, as interest from abroad in the first few months of this year is double that seen in the same period the year before.
A Spitogatos real estate advertisement website published a survey, which recorded a 125.6% year-on-year increase in searches for Greece property across the Internet. This is highlighting a deep interest in the Greek housing market and the interest has seemed to come from China, Turkey and the United Arab Emirates. These countries are not typical buyers and investors in the Greek housing market, so this has come at some surprise.
The highest increase was for properties in Thessaloniki, which went up by 281.2% followed by the southern suburbs of Athens, up by 251.5%. In the rest of the country, so in Macedonia and Thrace, these places saw a 163.8% surge in interest.
The Chinese interest rate was up by 203.6% too, and this figure comes from the first two months of 2016, year-on-year. The Golden Visa program is very incentivising, which has offered a five-year residence permit to non-European Union buyers of properties that cost 250,000 euros or more. This is very incentivising and is working wonders in terms of property investment attraction, on a global scale.
Interest has stemmed from Turkey too, which has doubled to 100%. They are evolving property investors now and are consistently searching for investment opportunities, in hot-watched countries such as Greece. Turkish investors are mainly looking to buy main residencies in Athens or Thessaloniki, according to estate agencies. They have a big focus on Airbnb too, as they show a fondness to second homes in popular summer destinations and have intentions of leasing them out to tourists.
Germany and the United Arab Emirates have shown a similar interest, amounting to 70% and 50.5% respectively. The United Arab Emirates are mostly keen on the popular Cyclades islands while Germany tends to be appealed to Crete.
Over the last few months, undoubtedly, foreign investors from all over the world are showing a liking towards real estate Greece properties. The demand is increasing and properties are worth more and more.
Written by Gemma Smith