Article in Greek Political Economic Newspaper Kathimerini of 08.08.2018
Sales Prices of Secondary Residences start increasing again after 10 years
Extract of the text :
The continuous increase of tourism during the last years in analogy with the economic stability contributed to get the real estate market of secondary residences in Greece gradually out of the crisis. Following the company of certified appraisers, Geoaxis Property & Valuation Services, a light increase of 0,1 % in sales prices was achieved in the first 6 months of the year after 10 years of decrease. The highest increase was recorded on Mykonos (+0,4%) while on Paros Island + 0,1 % were realized. This increase would have been even higher but it was somehow slowed down by an existing offer of 30.000 to 40.000 properties for sale all over the country. Another element in the study of the appraisers was that apart from the “classical newly built constructions” there is more and more demand for luxury secondary residences of which the prices reach € 23.810 per square meter on Santorini Island and up to € 11.154 per square meter on Paros Island in some specific areas (Naousa, Ambelas)
Comment from Errikos Kohls IC on the article :
It is obvious that the real estate market in Greece is recovering and the South Aegean Islands (Cyclades) are the clear leaders in attracting the interest of potential buyers while there are still plenty of opportunities ….