Less square footage but more amenities. This is the trend that is expected to dominate the preferences of foreign investors in the Greek holiday home market this year.

According to the analysis of Elxis: At Home in Greece, this year will be dominated by properties: 

• independent, newly built, high standards
• with utilization of outdoor spaces and excellent construction quality
• with a price between €270 thousand and €400 thousand.
• With an area from 70 to 95 square meters
• in alternative destinations with low tourist traffic
• with swimming pool and barbecue

THE RESERVOIR OF WESTERN EUROPE

Commenting on the range of sale prices, Elxis CEO George Gavriilides noted that there is a very large pool of customers from Western Europe who choose to buy a holiday home in Greece. These people prefer such an investment to keeping their money in savings accounts, which offer almost zero interest rates. Therefore, holiday home developers are adapting new properties in such a way that the costs do not increase and remain in this range.

As he explains, the adjustment is made by reducing the available space. It is typical that 20 years ago, a typical two-bedroom holiday home offered 90-95 sq m of living space. This year, the same newly built and fully independent house with a swimming pool is available with 70 sq m, mainly by reducing the size of the bedrooms and putting more emphasis on the design of the outdoor spaces. 

AREAS 

According to Mr. Gavriilides, there is a clear shift in demand this year from high-tourism areas to others that offer more room for development due to 

• saturation in the most popular areas
• the desire of many buyers for privacy
• the shortage of available land in tourist areas, which is pushing up final sale prices

"This is a trend we identified and reported on in early 2024, and we see it continuing this year, with even greater intensity. For example, instead of buying holiday homes on the island of Lefkada, we are seeing a noticeable shift in interest towards the mainland coast opposite, south and north of Preveza. Locations such as Monolithi, Kanali, Paleros, Pagonia and further south, the beaches of Mytikas, stand out, offering the same turquoise seas as the Ionian Islands, but with the added element of privacy and, of course, more affordable prices", notes Mr.

An important advantage of these regions is the port of Igoumenitsa, which greatly facilitates access, even by car, via Venice, Ancona, Bari and Brindisi.

CRETE

In Crete, there is a shift of interest from the northern part of the island to the south, in areas that are much less developed. Villages in the southern part of Rethymnon, such as Plakias, Mariou and Asomatos, with panoramic views as far as the islands of Gavdos and Paximadia, are now key destinations for hundreds of holiday home buyers.