Holiday homes with areas from 70 to 95 square meters in alternative, low-tourism destinations, featuring a pool and barbecue, are expected to dominate the demand from foreign buyers this year. According to Elxis – At Home in Greece data, independent newly-built properties, of high standards, making use of outdoor spaces, with excellent construction quality and a price ranging from 270.000 to 400.000 euros, will be the main focus of interest among international buyers. This is stated in this year’s analysis of the trends expected to prevail in the Greek holiday home market. Elxis is a Greek company based in Utrecht, Netherlands, specializing in the sale of holiday homes in Greece, with a wide client base of foreign buyers.
“Firstly, we are observing once again this year a clear shift in demand from high-tourism areas to others that offer more room for development. This is happening due to the saturation in the most popular areas and the desire of many buyers for privacy. Additionally, land plots are scarce and, when they are found, they are expensive, causing the final sale price to skyrocket,” says Mr. Giorgos Gavriilidis, CEO of Elxis.
The result is a shift towards other areas that are less crowded and more affordable, which not only do not lack natural beauty – quite the opposite – but also offer authenticity and, of course, privacy. This is a strategic advantage of the Greek holiday home market compared to other competitive Southern European markets, which are oversaturated.
“This is a development we had identified and reported on early in 2024, and we see that it continues this year as well, with even greater intensity. For example, instead of purchasing a holiday home in the island of Lefkada, we are seeing a noticeable shift of interest to the mainland coasts across, to the south and north of Preveza. Locations such as Monolithi, Kanali, Palairos, Pagonia, and further south, the beaches of Mytikas, stand out, offering the same turquoise seas as the Ionian Islands, but with the added element of privacy and, of course, more affordable prices,” notes Mr. Gavriilidis. A major advantage of these areas is the port of Igoumenitsa, which significantly facilitates access, even by car, via Venice, Ancona, Bari, and Brindisi.
Similarly, according to Elxis, in Crete, there is a shift in the interests of potential buyers of holiday homes from the northern part of the island to the southern one, in areas that are much less developed. Villages in the southern part of the Rethymno region, such as Plakias, Mariou, and Asomatos, with panoramic views all the way to the islands of Gavdos and Paximadia, are now key destinations for hundreds of holiday home buyers. At the same time, access remains good, as the distance from the northern part of Crete and the city of Rethymno is about 35 kilometers, while these destinations are at about the same distance away from the airports of Heraklion and Chania. It is also worth noting that Crete was voted as the 9th best holiday destination in the world, based on the latest annual Tripadvisor user awards.
As for sale prices, the most popular range will remain the one from 270,000 to 400,000 euros. According to Mr. Gavriilidis, “In this price range, there is a very large pool of clients from Western Europe who choose to buy a holiday home in Greece. These people prefer such an investment rather than keeping their money in savings accounts, which offer close to zero interest rates. Therefore, holiday home builders are adjusting the new properties in such a way that the cost does not increase and remains within that range.”
This is primarily achieved by reducing the available space. As Elxis points out, 20 years ago, a typical two-bedroom holiday home offered 90–95 square meters of living areas. This year, the same newly-built and fully independent house with pool is available with an area of 70 square meters, mainly by reducing the size of the bedrooms and placing greater emphasis on the design of outdoor spaces. For example, many new homes now include an outdoor kitchen, pergola, and a barbecue. Given that these properties are used primarily in the summer months, during which time a large part of the stay is spent outdoors, this makes sense, Elxis’ analysis concludes.
About Elxis-At Home in Greece
Elxis-At Home in Greece (https://elxis.com/) is an expert provider of realty and legal services in the Greek market. With offices in Thessaloniki and Crete in Greece, and Utrecht in the Netherlands, Elxis’s team of highly qualified property professionals has over 30 years of experience in managing residential property investments. The company covers the needs of its international clientele in the best way possible, with a team of seven legal experts, as well as with personnel whose native spoken language is English, Dutch and German.
