New group of realty investors

The Greek real estate market has begun to attract new categories of buyers from abroad, as it gradually matures as a destination, not only for holidays and recreation during the summer months, but also for occasional or permanent residence and work.

Affordable prices compared to other Southern European countries are among the reasons for this trend, as the Greek market was in recession for most of the past decade, while most foreign markets recorded successive increases and historical highs.

Another reason is the major flexibility offered in the local market with regard to the exploitation of the property being purchased, something that more and more buyers now desire.

In a recent analysis of the Greek property market, Astons, one of the largest investment migration groups in the UK, notes that “today’s property buyers in Greece are not necessarily just retirees from Northern Europe or those acquiring a villa on an island. They are high-tech entrepreneurs from Tel Aviv, company owners from Manchester and architects from New York. What they have in common is the desire for flexible investments that offer returns and the possibility of easy mobility,” Astons says.