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Shift from Greek buyers to smaller houses | TheGreekDeal.com
REAL ESTATE
Shift from Greek buyers to smaller houses
Larger properties are primarily chosen for owner-occupation, but Greek buyers are gravitating toward smaller properties, primarily seeking investment opportunities that can guarantee future capital gains.
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Greek buyers are turning to smaller properties, mainly targeting investment opportunities that can ensure future capital gains, while larger properties are mainly chosen for owner-occupation. Buyers also prefer smaller properties because they are more affordable and have lower maintenance costs compared to larger ones, and if they choose to rent them out, the returns are significant.

Compared to last year, an increase in the percentage of sales of properties with an area of up to 50 sq m, as well as those from 51 to 75 sq m, is recorded in the nationwide survey of RE/MAXGreece, the largest real estate network in the country, while the percentage of properties with an area of more than 76 sq m is slightly reduced.

According to recent data from RE/MAX Greece, which has 85 offices and more than 1,100 real estate consultants across the country, 50% of buyers across the country prefer properties with an area of up to 75 square meters. This percentage relates to completed property sales completed through RE/MAX's real estate network, not just buyer interest.

In particular, 1 in 4 buyers (24.9% of the total) chose properties with an area of 51–75 square meters, while 24.7% chose properties with a smaller area of up to 50 square meters, according to data from nationwide sales through RE/MAX. Purchases of larger properties remain at relatively high levels, as 23 out of 100 respondents bought properties of 76 to 100 sq m, and around 1 in 5 bought even larger properties of 101 to 150 sq m. Despite the fact that these properties offer greater comfort and space, 8.8% of all buyers chose properties with an area of 151 square meters and above.

In the prefecture of Attica, the picture confirms the above trend. Specifically, 27.7% of buyers preferred properties with an area of 51 to 75 square meters, which makes them the most popular in the entire prefecture. Also, 1 in 4 buyers preferred properties of 76 to 100 square meters, which are still in high demand. Next in terms of buyer popularity, with 18.7%, are smaller properties of up to 50 square meters, and properties of 101 to 150 square metres are very close behind. As for very large properties (over 151 sq m), only 10 out of 100 buyers chose them.

In Thessaloniki, a similar picture to that of Attica was observed, with most buyers choosing properties between 51 and 75 square metres. Properties of 76 to 100 sqm were chosen in a higher percentage than those of up to 50 sqm, namely by 29% and 15.3%, respectively.

Finally, it's important to note that preference for larger homes—those measuring more than 151 square meters—decreased by almost 50% from the previous year.

In the rest of Greece, a different picture is observed compared to that of Attica and Thessaloniki, with 29.8% of buyers choosing smaller properties up to 50 sq m and an increase of around 35% compared to last year, making this category the most popular in these areas.

Properties between 51 and 75 square meters come in second at 21.8%, while 20.9% of buyers prefer properties between 76 and 100 square meters. Finally, 18.2% of buyers chose properties with a surface area of 101 to 150 square meters.

This variety of choices reflects the different needs and preferences of buyers in different regions of Greece. Properties larger than 151 square metres occupy 9.3% of the market, reflecting the lower demand for larger properties in these areas.

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