Press release: What are this year’s ‘hot spots’ for foreign demand for holiday homes in Greece?

“We are seeing Crete evolve into an increasingly dynamic market, as 1 in 3 foreign investors is now looking for a home there. Based on our data, the percentage of buyers interested in properties in Crete rose this year to 35.15%, up from 29.42% in 2025,” notes Mr. Giorgos Gavriilidis, CEO of Elxis. According to him, areas on the southern side of Crete, mainly in the regions of Rethymno and Chania, with views of the Libyan Sea, remain among the most popular choices for foreign holiday home buyers.


According to the company’s analysis, beyond its unmatched natural beauty, Crete offers significant investment benefits. First, its mild climate ensures a long tourist season, along with relatively attractive prices, forming a combination that favors investment in real estate and offers solid returns. In addition, accessibility is another key advantage. Flights now operate 52 weeks a year from the Netherlands to Heraklion, making travel easier for foreign buyers.


In this context, particular mention should be made of the new airport project in Kasteli, Heraklion, Crete. This is a major infrastructure project that will significantly upgrade air transport on the island, greatly enhancing its prospects in both tourism and real estate. According to projections by the consortium responsible for the project, in its first full year of operation in 2028, passenger traffic is expected to reach 11.5 million, up from the 10 million currently handled by the existing “Nikos Kazantzakis” airport. However, this estimate is considered conservative, as upgraded infrastructure will allow the number of hourly aircraft movements to increase from 22 today to over 40.

Strong foreign demand is also supporting investment in new housing developments. According to data from the Hellenic Statistical Authority (ELSTAT), in 2025, building permits were issued for the construction of 3,319 homes in Crete. Of these, 1,498 are in the Chania regional unit, followed by Heraklion with 1,088 new homes. In Rethymno, 470 new homes were licensed, and in Lasithi, another 263. Of the total 3,319 new homes, 2,063 have three or more bedrooms, indicating a shift toward larger and higher-quality properties.


After Crete, the regions attracting the most foreign buyers this year are the Peloponnese and the Ionian Islands. In Crete, a newly built villa with a pool, sold off-plan, starts at €3,800 per square meter and reaches up to €4,500 per square meter. In the Peloponnese, prices also start at €3,800 per square meter, while the Ionian Islands are more expensive: the average price for similar properties in Corfu stands at €5,600 per square meter, and in Lefkada at €5,500 per square meter. “We’ve noticed that a growing share of our clients are looking for homes sold off-plan, as this not only allows for a discount compared to completed properties, but also offers the possibility to customize materials and features during construction,” adds Mr. Gavriilidis.


However, according to him: “Buyers no longer begin by saying: ‘I only want Crete’ or ‘only Corfu.’ Instead, they start by saying: ‘I want a property that is sound – legally, technically, and functionally.’” This is why Elxis, in collaboration with developers, sets specific criteria for every project it promotes abroad. These include views, privacy, distance from the sea, and, of course, ease of access. “With these criteria, we seek reliable developers in areas that meet the requirements and create new projects based on the specifications we know our clients are looking for”, Elxis’ head concludes.