Greece’s prime property market is emerging as one of Europe’s most attractive hotspots for wealthy UK buyers with new insight from international property consultancy Astons revealing where €1m-plus homes dominate local housing stock.
Astons analysed 18 of the most exclusive homebuying locations across Greece, finding that out of almost 296,000 homes currently for sale nationwide, more than 24,000 are listed for €1 million or more – around 8.2% of the total.
But in Greece’s most desirable enclaves, luxury property accounts for the bulk of the market.
On the Aegean island of Mykonos, famed for its nightlife and pristine beaches, 65.3% of properties on the market are priced at €1m or more. Out of 1,214 listings, 793 fall into this prime category.
MAINLAND GREECE
In mainland Greece, the northern Athens suburb of Ekali – often compared to Beverly Hills for its gated villas and leafy streets – ranks second. Here, 583 homes carry seven-figure price tags, equal to 61.6% of the local market.
The Athens Riviera also features prominently.
The Athens Riviera also features prominently. In Voula, a family-friendly coastal district overlooking the Saronic Gulf, more than half (52.9%) of homes for sale are priced at €1m or above.
Other affluent Riviera locations include Vouliagmeni (41.8%), where luxury apartments and beachfront villas dominate, and Plaka, where 42.6% of available homes top €1m.
Elsewhere, island favourites such as Spetses (42.2%) and Paxoi (40%) also see prime homes making up a large share of available listings.
GOLDEN VISA APPEAL
Suzanna Uzakova, Senior Consultant for Residency and Citizenship Programmes at Astons, says: “Greece continues to offer extraordinary opportunities for high-net-worth individuals seeking luxurious second homes or long-term lifestyle investments in one of Europe’s most desirable destinations.
“From the cosmopolitan vibrancy of Mykonos to the refined elegance of Ekali and the relaxed metropolitan charm of the Athens Riviera, Greece’s prime property market remains a magnet for discerning UK buyers.
“Thanks to Greece’s Golden Visa programme, investors can use a property purchase to also secure full Greek residency. Given the exclusive high-end nature of these markets, the minimum investment requirement is €800,000.”
INTERNATIONAL BUYERS
And she adds: “However, Greece is not a market reserved exclusively for the ultra-wealthy because its Golden Visa programme continues to be one of the most accessible in Europe, offering residency to an investment of just €250,000, providing the money goes into the conversion of old commercial buildings into new residential dwellings.
“This opens the door for a much broader range of international buyers and investors to benefit from the lifestyle, stability, and investment potential Greece has to offer.
“Greece presents an increasingly compelling proposition, especially as it continues to offer a Non-Dom tax regime after the likes of the UK have abolished theirs.”
