Demand for luxury properties returns | eKathimerini.com
Since the summer, renewed demand for luxury homes from foreign investors and buyers has been detected, both in Attica and in popular resorts in Greece.
According to the Athens office of Berkshire Hathaway HomeServices (BHHS), âthere is a momentum that is strong and clear in the southern suburb of Athens, the Athenian Riviera, and has now started to be reflected in other areas traditionally as well. associated with luxury residences. , such as Kolonaki, Filothei, Palaio Psychico and Kifissia / Ekali.
He adds that, “at the same time, the demand for lower cost modern luxury homes is clearly increasing in neighborhoods such as Palaio Falirio, Alimos, Elliniko, Vrilissia, Maroussi, Halandri, Agia Paraskevi and Holargos”, noting that the demand in these areas mainly includes Greek buyers.
However, the main source of demand is Asia. The budgets available are often determined by the supply, the asset offered, and mainly relate to accommodation on the Athenian Riviera, in the northern suburbs of Athens and on the islands. Of course, foreign investors don’t have endless cash: âBuyers don’t waste money. However, they trust large international companies to make sure they are buying at the right price and making conscious choices given that they have a plethora of options across the Mediterranean – besides Greece – to Spain, in the southern France, Italy and Cyprus. “
BHHS notes that there are different profiles of buyers: there are those who are embarking on the acquisition of very expensive properties in the southern suburbs of Athens and on the most popular Greek islands. âThey mainly come from the United States and the Middle East,â says BHHS. Then there are the buyers focused on obtaining a residence permit through the Golden Visa program. They come mainly from China, Southeast Asia, the Middle East, Russia and Turkey. They are mostly interested in a good investment, targeting capital gains from the expected increase in asset value. A third category of buyers comes mainly from Northern Europe, as well as from France, Austria and Italy. They mainly target income investments and secondarily capital gains, so they buy on the basis of short or long term rental rates.