23.03.2026
Eva Karolidou
A shift is evident this year in the profile of foreign property buyers in Greece, following adjustments to the Golden Visa program. According to an analysis by Elxis – At Home in Greece, demand for residency permits has dropped by 83% compared to last year. This is based on demand data and trends observed through Elxis’ network and its offices in the Netherlands, Thessaloniki, and Crete.
“The noticeably reduced interest from buyers outside the EU in obtaining a residence permit is because properties purchased through the Golden Visa program cannot be used for short-term rentals. As a result, they lose investment value,” says Elxis CEO Mr. Giorgos Gavriilidis. Another discouraging factor is the increase in the minimum investment threshold to €800,000, which now applies not only in Attica and central Thessaloniki, but also across all major islands with a minimum population of 3,100 residents.
Therefore, the profile of buyers acquiring property in Greece has shifted. There has been a decline in buyers motivated primarily by investment. According to Elxis data, in recent years, the “appeal” of short-term rental platforms, along with the residence permit offered through the program, has attracted many buyers, mainly younger individuals aged between 30 and 45, who focus primarily on investment. These buyers typically purchased holiday homes and secondary residences in Attica and Thessaloniki, initially to generate income and later for occasional personal use.
Following the recent changes to the Golden Visa program, this segment has declined, while the share of more “traditional” buyers in the Greek market has increased. “People aged from 45 to 60 from Western Europe, who cannot easily invest their money in their home countries and are approaching retirement or are already retired, now make up the core group of buyers,” Mr. Gavriilidis noted. As for the Golden Visa, it now appears to attract mainly retirees, particularly for properties around the €400,000 threshold, which applies to holiday homes located outside the two major urban centers and large islands.
Elxis’ analysis shows a significant increase in demand from buyers in the Netherlands and France. During the 2024–2025 period, the share of Dutch buyers rose by 16.7%, while the share of French buyers increased by 6.3%. At the same time, demand remains consistently strong from Germany, the United States, the United Kingdom, and Canada, while interest from Belgium—traditionally a country with a high share of investment-oriented buyers—has declined by 4.2%.
Foreign buyers mainly prefer newly built properties, either under construction or completed within the past five years. Choosing modern properties ensures greater comfort and, at the same time, they are sold at lower prices compared to similar homes in the buyers’ countries of origin, creating a sense of better value. It also allows for future capital gains from a potential sale. Another important factor is that newly built holiday homes in Greece are typically part of smaller residential complexes, unlike in other Mediterranean countries, where large-scale developments are more common.
Beyond the above, the Greek market offers additional strategic advantages, including a lower cost of living than many European countries and access to an extensive coastline.
19.01.2026
Our survey forecasts notable changes compared to previous years and the formation of new trends in the holiday home market for 2026. Throughout our research, we identified an increasing shift not only toward luxury and high-end properties, but also toward more affordable holiday homes of smaller surface areas, based on demand observed in selected projects with such characteristics.
17.12.2025
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24.10.2025
An exponential increase both in the speed of real estate transactions and in the overall size of the real estate market can be achieved through the availability of publicly accessible and reliable data, especially for prospective buyers from third countries. This was the key takeaway from the remarks of Mr. Dion Gavriilidis, Managing Partner of Elxis – At Home in Greece, a leading company in the sale of holiday homes in Greece.
15.10.2025
“Greece is moving up a league. It is no longer a market of opportunities; it is a market of trust and stability.” With these words, Mr Giorgos Gavriilidis, CEO of Elxis – At Home in Greece, summed up the trends and prospects of the Greek holiday home market for foreign buyers during his speech at the recent Oikodomi Expo.
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