Germans are the number one foreign home buyers in Greece, showing particular interest for properties on Crete and the Ionian Islands, according to data from Elxis, a real estate company specializing in high-end holiday homes for over 30 years.

Their figures show that home sales to German nationals rose by 300% in the first half of this year compared to 2021, which puts them in first place among holiday home buyers in the country, ahead of investors from other European countries, such as the Netherlands, Belgium and the United Kingdom.

The numbers presented also show that Germans are purchasing more expensive homes than other foreign investors, buying houses at an average cost of €350,000. This is approximately a 20% increase compared to last year, indicating a growing confidence in the Greek market, George Gavriilidis, CEO and founder of Elxis points out.

“Greece offers excellent value, which investors are increasingly seeing. The overly developed coastlines of other countries, such as Spain, and the very high prices in other Mediterranean countries, are factors now pushing buyers to look for other quality solutions, thus turning to our country. Despite the challenges due to the war in Ukraine and inflationary stress on the market, demand for housing in Greece remains high and is expected to continue. This trend is confirmed by recent data from the Bank of Greece for the first quarter of 2022, showing inflows of 374 million euros from real estate purchases in the country – an amount 74.8% higher than that of the same period in 2021,” Gavriilidis explains. “As a response, we are expanding and investing accordingly, increasing our number of German-speaking employees and upgrading the German-language version of our site, in order to provide the best possible service to our customer base, following current trends,” he adds.

Source: AMNA, via kathimerini.gr.