Greece is a beautiful Mediterranean island renowned for its azure waters, delicious food, (did someone say Greek salad?) and gorgeous properties with breathtaking views. In fact, foreign investment in Greek real estate is at its highest level in two decades as international buyers vie to get their hands on a slice of paradise in Greece.
But what is it about that makes a holiday home in Greece so appealing to international buyers? Here, we’ll outline six key reasons why foreigners choose to buy second homes in Greece.
Gorgeous climate
If there’s one thing that holiday home buyers look for in a location, it’s sun. Luckily, Greece has an average temperature of 26°C year-round and the Mediterranean climate makes for warm summers and mild winters. OF course, the Greek islands experience a slightly milder climate, especially the southern ones. While alpine homes in Greece enjoy cooler temperatures in spring and summer, and often rain and snow in winter. If you’re buying a holiday home in Greece, you’ll likely visit in spring or autumn, when the temperatures are warm but not too hot. This weather is perfect for active buyers too, and there is so much to get involved with in Greece – from hiking to water sports.
Low cost of living
Greece is a reasonably affordable place to live, with a lower cost of living than a number of locations holiday home buyers tend to come from. A recent study from Property Guides revealed that Greece came 4th in the 20234 Cost of Living Index, which compared the costs of everyday items, like bread and milk, as well as utility, travel, healthcare and leisure costs. Fruit and vegetables are considerably cheaper in Greece as the famous Mediterranean diet consists of locally grown ingredients which can be bought at the local produce market. Travel within Greece is also quite affordable, with an hour-long train ride costing just £15.
A woman enjoying a Greek meal and a glass of wine
Relaxed lifestyle
There’s something about island living that comes with an innate amount of zen. Anyone who’s visited Greece can surely attest to that. Locals and foreign residents enjoy a relaxed lifestyle and enjoy life one day at a time. For those interested in buying a holiday home in Greece, this can be super beneficial not only for your enjoyment but for your mental health too. A trip to your holiday home in Greece will be an escape and allow you to smell the roses.
Affordable homes
Whatever your budget, you’ll be able to find a holiday home in Greece. The market is hugely diverse with one-to-two-bedroom apartments for as little as €90,000. You can find several homes for considerably less, however, they are unlikely to be key-ready and require renovations. If you’re a fixer-upper with a good set of DIY know-how, it could be your ticket to finding a bargain home in Greece and making it your own. For those seeking a key-ready home with three bedrooms, prices start at around €135,000.
The gorgeous Navagio Beach in Zakynthos, Greece
Blue Flag beaches
If you haven’t heard of the Blue Flag accolade, it’s a worldwide certification awarded to only the very best beaches. The Blue Flag team award the Blue Flag status only to beaches that meet their high expectations for sustainability, accessibility and cleanliness. What you’ll be pleased to hear as someone buying a holiday home in Greece is that the Mediterranean island is home to a whopping 625 beaches and 18 marinas with the quality award. It’s actually the world’s second-best location for Blue Flag awards, which isn’t bad considering its area compared to Spain, which takes the top spot.
Easy buying process
Our partners at Property Guides found that over 80% of people who have already bought a property in Greece found the process either ‘very easy’ (37%) or ‘quite easy’ (49%). This brings comfort to those considering buying a holiday home in Greece as it’s good to hear from those who’ve already been in your position. Unlike in Cyprus, there are no title deeds to worry about when buying a property in Greece. Plus, the process usually follows a follows six, easy-to-follow steps. They are:
- Set up a bank account in Greece and secure a tax registry number from the Internal Revenue Service.
- Make an offer on a property and pay a reservation fee.
- Sign the preliminary contract and pay the deposit
- Legal due diligence takes place – this is also a great time to get a survey if you require one.
- Pay the property transfer tax.
- Sign the sales contract and pay the outstanding amount.
For a step-by-step guide to buying a property in Greece, download the free guide today.
Browse properties for sale in Greece.
Register your own home for sale here.
Sources: Global Property Guide, Greek Reporter.
