Greece is emerging as an increasingly attractive destination for second-home purchases among buyers from the United States and Canada, driven by a sharp rise in interest from both markets, data and industry executives show.
Demand from the two countries rose 50% in the first half of the year, according to figures compiled by Elxis – At Home in Greece, pointing to a new trend in Greece’s holiday property market.
“Until recently, the main source markets for holiday homes in Greece were central and northern European countries such as Germany, France, the Netherlands, Belgium and Switzerland. However, this sharp increase in interest and transactions from the U.S. signals a significant shift and expansion of the markets now targeting Greek real estate,” said George Gavriilidis.
Diaspora buyers drive demand
Around 30% of buyers from the U.S. and Canada are of Greek descent, including second- and third-generation diaspora Greeks, the company said.
“This indicates that the shift toward Greece is not only investment-driven but also reflects a return to roots and a desire to reconnect with their country of origin,” Gavriilidis said.
New-build homes dominate interest
Seven in ten buyers (70%) from the two countries are opting for newly built holiday homes or under construction, while the remaining 30% prefer existing properties.
The average spend per buyer stands at 448,000 euros, according to Elxis data. Only 11% of buyers have used Greece’s “Golden Visa”…
