Foreign investors turn to the Greek Real Estate Market to look for shelter
The applause that Greece receives by the international media about the way it has dealt with the first wave of the Covid-19 pandemic seems to be paying off, as more and more foreign buyers are showing interest in buying real estate in the country of East Mediterranean.
In a market where one would expect the numbers to be quite low compared to last year's, the data is reversed. Thus, the demand for the appropriate "shelter" as reported by a survey of an online real estate network on behalf of the Athens daily "Kathimerini", has increased by 19.3% in April 2020 compared to April 2019. In fact, in the last days of April, it even reached 30%, a percentage that remained at the same level in the first days of May.
It is also worth mentioning that in February 2020, before the epidemic turned into a pandemic, the demand for housing in Greece was growing at a rate of 20% compared to February of last year, while in March and when the whole world was getting affected by the spread of Covid-19, a drop of 20.5% was recorded.
Who is investing?
According to the survey, those who have shown the greatest interest in buying a private home in Greece are the Germans, followed by countries such as the United Kingdom, the United States, Cyprus, and Australia. That is countries that have a fairly large Greek community or from which access to Greece is relatively easy, even by road in some cases.
The leaders attribute Germany's leading position, both to the fact that this unprecedented situation that has hit the world has improved Greece's image abroad and to the fact that the Germans have always been one of the main investors in buying a private home in Greece.
In fact, according to German real estate market sources, and "Kathimerini", the favorite destinations of Germans for buying a private home are Crete, the Peloponnese, Pelion, and Corfu, while New areas such as Athens and Thessaloniki, Halkidiki and of course the Cycladic islands of the Cyclades are also among the top choices.
Finally, let's not forget that the real estate market in Greece is at a crossroads, because of its positive course even after the spread of the pandemic. Given the conditions that exist in the main competitors of Greece for attracting foreign investors such as Italy, Spain, and France, most buyers have turned their attention to our country, with the highly competitive prices at which private homes are available to be another important lure.
See which countries are in the top 20:
United Arab Emirates
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