In recent years, foreign investors’ preference for purchasing real estate in Greece has shifted toward alternative destinations, driven by factors that combine economic opportunities with a high quality of life.
The ability to acquire a residence and obtain a Golden Visa at a significantly lower cost—properties ranging from €300,000 to €600,000, compared to the €800,000 required in more popular areas—plays a key role in directing investors to alternative destinations. Regions considered less mainstream but equipped with essential infrastructure (good road networks, hospitals, airports) are gaining ground. Compared to tourist hubs that experience overcrowding annually, such as Mykonos or Santorini, mountainous destinations or quieter islands (Kea, Tinos) offer a more ideal solution. These destinations provide more affordable properties without compromising on natural beauty or investment potential, justifying their growing demand.
Northern Greece is particularly attractive to investors from the Balkans, who show a preference for the coastal areas of Macedonia. Specifically, areas around Thessaloniki, such as Kalamaria and Halkidiki, are in high demand, attracting Turkish, Chinese, and Northern European investors. Thessaloniki has become the second most sought-after investment destination in Greece, after Attica. At the same time, Western Greece is emerging as a rising destination, particularly over the past year, with the coastline of Epirus seeing increased demand, especially from U.S. residents.
Significant demand for real estate is also observed in large Aegean islands such as Crete and Rhodes. These areas offer a sense of privacy and relaxation combined with safety, an undeniably important factor, especially for long-term residence. The presence of airports facilitates access regardless of the investor’s country of origin, making this a decisive criterion in their selection.
Broadly speaking, investors can be divided into two main categories based on their intentions when purchasing real estate. The first category consists of those interested in property investment as a way to obtain a Golden Visa, often combined with renting the property for profit. These investors tend to focus on the returns that a property can provide and therefore are inclined to invest in larger urban centers. The second category includes older investors primarily interested in owner-occupation after retirement or for a holiday home. In this case, the criteria focus more on the region’s authentic natural beauty, less mass tourism, and the potential for a peaceful lifestyle.
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