How the holiday home market is moving in the popular tourist destinations of Greece

The holiday home is back in the spotlight, heading towards the summer months. Although we would easily characterize the “holiday home” as a traditionally Greek affair with about 33% of Greeks owning a second home, the interest of foreign investors remains growing.

But what seem to be the most popular tourist destinations of shopping interest in Greece and how is the average selling price per sq.m. the first quarter of 2022, compared to that of 2021?

Managing a base with over half a million properties throughout Greece, the Golden opportunity systematically analyzes them prices and trends in the real estate market providing valuable insights to both potential investors / buyers, as well as property owners and real estate agencies. The analysis shows 3 clusters of interest based on user searches.

Areas near Attica

The decisive criterion of potential buyers remains the distance from the Athenian capital. Characteristic is the undiminished interest in its resorts CorinthAs the Loutrakithe Saints THEODOROI or the Xylokastrobut also for consistently popular destinations such as NafplioAegina and Chalkida.

The average selling price rose to 1,787€/ sq.m. for the above areas from 1,682€/ sq.m. in the first quarter of ’21, thus presenting an overall increase of 7.04%. It is worth noting, of course Aegina with a sale price of 2,386€/ sq.m. raises the average significantly, with the island of Attica competing in price islands such as Τήνος and the Corfu.

Popular areas away from Attica

THE MagnesiaMessinia and Halkidiki, fixed destinations of interest based on the searches of its users Golden Opportunity, show (single) upward trend in the price front. The most remarkable of the findings is the increase in the average selling price by 18.04% in Chalcidicewith prices reaching 2,251€/ sq.m. Its wider area is also moving upwards Messinia, with the average sale price per sq.m. to reach an average of 1,738€ from 1,708€. On the other hand, its prices Magnesia increased by 5.6%.

Luxurious islands

The data for some of the most popular Greek islands, such as Santorinithe Mykonos and the Paros forming their own luxury category.

More specifically, these islands appear consistently high in the search for holiday homes, despite the increasing trend in the average sale price per sq.m. and the already high absolute prices. Thus, the Santorini records an increase of 9.27%, with the sale price per sq.m. to reach 4,848€. H Mykonos moves up 10.97% to 6,496 €/ sq.m. and the Paros 11.61%, with 3,625€/ sq.m. The above trend and its data Golden Opportunity confirms and the Golden Homethe largest real estate company with 12 offices, over 50k properties throughout Greece and a strong presence in both Mykonosas well as in Santorini.

Islands with unchanged prices

THE Τήνοςthe Rhodesthe Corfu and the Syros are islands where no significant change in prices was recorded, although they are still traditionally high in the preferences of the buying public. This does not mean that the average selling price is low with Τήνο to reach 2,183€/ sq.m., properties in Rose the 1,667€/ sq.m., but also the Corfu to reach 2,352€/ sq.m. On her island Syrosthere is a slight increase from 1,727€/ sq.m. at 1,796€/ sq.m. Its island moves in the same context Of Creteif we exclude an increase in the area of Chania of the order of 9.17% in the average selling price, from 1.865€/ sq.m. at 2,036€/ sq.m.

Macroeconomic developments create an unstable environment that we expect to see how it will affect the real estate market. At present, the upward trend of both public interest in “holiday homes” and sales prices in relation to 2021 seems to be a given. Thus, in an environment saturated with often conflicting information, the Golden opportunity gives access to reliable data which has collected, cleaned and organized over the years both in private property owners or interested buyers, as well as in companies with investment purposes.