Interest by foreign nationals in residential property in Greece is steadily increasing, according to the CEO of an Athens-based real estate website, Spitogatos.
By T. Igoumenidi
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Interest by foreign nationals in residential property in Greece is steadily increasing, according to the CEO of an Athens-based real estate website, Spitogatos.
Falling prices – the result of an ongoing recession and already burst property ‘bubble’ – in tandem with a visa program for third country nationals linked to a hefty real estate investment (above 250K euros) have generated somewhat of an “investor’s market”, according to Dimitris Melachrinos, who heads up the website.
He said visits to the real estate site have increased by 203 percent (yoy), with the biggest interest coming from China, Turkey, German and the UAE.
The greater Thessaloniki area, in northern Greece, has dominated interest by visitors to the website, up 281 percent; followed by coastal southern Athens; central Athens; the Macedonia-Thrace region, Greece’s northern border; Crete; the Aegean islands; Halkidiki prefecture and the Peloponnese.