Foreign investors snapping up luxury properties

According to data from Elxis – At Home in Greece, in the last 18 months, there has been an increase in land purchases by foreign investors seeking to build holiday home complexes. These are mainly individuals, or even companies from Western Europe, such as Germany, the Netherlands and Belgium. 

For example, at the moment in Crete a German company is building 65 apartments near the Venetian port of Hania; a Dutch businessman with a privately owned engineering company is building 28 luxury apartments in Vasiliki at Lefkada, fully furnished, and will also manage them on behalf of the buyers (e.g. rental, maintenance and cleaning), while a Belgian investor is building 14 detached houses with a swimming pool in Rhodes. 

“This is further proof that Greece is a very attractive destination in the holiday home market,” notes Giorgos Gavriilidis, CEO of Elxis, which is based in the Netherlands and specializes in promoting Greek holiday homes to foreign buyers. 

Investors usually go for plots in privileged locations, as close as possible to the sea, and choose luxurious assets of similar standards and facilities, he adds.

Kathimerini