7/24/2024

Recently, there has been a significant increase in interest in purchasing real estate in popular regions of Greece. Amid this trend, the suburbs of Thessaloniki have emerged as top choices for Greek buyers, while foreign buyers prefer the picturesque Halkidiki. In this article, we will take a closer look at the real estate market, focusing on prices and popular destinations in the first quarter of 2024.

Real Estate Prices in the First Quarter of 2024

According to the Spitogatos Property Index (SPI), the average asking prices for vacation homes in popular regions of Greece have risen noticeably in the early months of 2024.

Regions with the Highest Prices

In mainland Greece, the regions with the highest average asking prices for vacation homes are:
– East Mani
– Sithonia and Kassandra in Halkidiki
– Sivota
– Methoni in Messenia

Kallikratia in Kassandra ranked just below the top ten. These regions attract both Greek and foreign buyers due to their picturesque landscapes and well-developed leisure infrastructure.

Halkidiki – A Favorite Spot for Foreigners

According to a Spitogatos study, Halkidiki is becoming one of the most popular destinations for both tourists and foreign property buyers. The highest interest in purchasing homes in Halkidiki comes from citizens of Germany, Serbia, and North Macedonia. They mostly seek apartments, private houses, and maisonettes, which offer high levels of comfort and stunning sea views.

Price Increases in East Mani and Other Regions

The highest increase in the average asking price for vacation homes in the first months of 2024 compared to the same period in 2023 was noted in the following regions:
– East Mani (+54.4%)
– Zagori-Pelion (+43.3%)
– Nafpaktos (+28.2%)

**More Affordable Areas**

Among the most economical regions for purchasing vacation homes in the rest of Greece are:
– Akrata
– Agria
– Milies in Magnesia
– Zacharo in Ilia

These areas offer more affordable housing options, making them attractive to buyers with limited budgets.

Domestic and International Demand

The demand for homes on the market shows different dynamics among local and foreign buyers. In the first quarter of 2024, domestic demand decreased by 4.2% compared to the same period in 2023, while international demand increased by 11.8%.

Popular Areas for Greek Buyers

The most popular areas for home searches among Greek buyers remain:
– Suburbs of Thessaloniki
– Central Athens
– Southern and northern suburbs of Athens
– Municipality of Thessaloniki

In the suburbs of Thessaloniki, Greek buyers most often look for apartments, mansions, and maisonettes. In central Athens and the southern suburbs, the focus remains on apartments, private houses, and studios. In the northern suburbs of Athens, there is interest in mansions, apartments, and maisonettes.

International Demand

At the international level, the most popular areas for real estate searches in the first quarter of 2024 were:
– Central Athens
– Halkidiki
– Southern suburbs of Athens

Potential buyers from the United Kingdom and the United States are actively interested in apartments, private houses, and studios in central Athens, driven by the attractiveness of the location and the potential for profitable investments.

Conclusion

The growing demand for vacation homes in Halkidiki and apartments in the suburbs of Thessaloniki underscores the appeal of these regions for different categories of buyers. While Greek buyers prefer the suburban areas of major cities, foreign investors favor picturesque resort areas like Halkidiki. The Greek real estate market continues to develop, offering a wide range of properties to meet diverse needs and budgets.