Athens is seeing an explosive demand for luxury real estate 2021

Athens is seeing an explosive demand for luxury real estate

04.11.2021 18:00
Author: Natalia Zykova

Luxury real estate in the suburbs of the Greek capital and on the Athenian Riviera is back in demand. These are the conclussions the employees of the brokerage firm Berkshire Hathaway HomeServices reached. According to them, in recent months, the number of premium-class housing purchases has increased dramatically. Clients’ interest has spread to all areas where prestigious homes with luxury furnishing and all necessary commodities are traditionally located. Paleo Psychiko, Filothei, Kolonaki and Kifisia/Ekali were among the top choices.

According to the data BHHS have gathered, potential Greek investors and residents of other countries are paying attention to luxurious modern buildings in areas such as:

  • Alimos;
  • Palayo Falario;
  • Maroussi;
  • Holargos;
  • Agia Paraskevi;
  • Chalandri;
  • Elliniko;
  • Vrilissia.

Most of the buyers are businessmen and wealthy people from Asia. Among their preferences are the picturesque coastal area, as well as the northern areas of the city and the island.

BHHS analysts have identified 3 groups of people interested in local real estate. The first group is made out of American and Middle Eastern investors. They buy the most expensive villas, apartments and cottages in the southern outskirts of Athens and on the popular islands. The second group would be immigrants from Russia, China, Turkey and Southeast Asia. They buy housing with the condition of obtaining a residence permit under the Golden Visa state program. The third group are Europeans who are interested in the fastest possible profit. They choose real estate that can be leased profitably in order to receive a stable income.

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