German Pensioners Keen on Buying Property in Greece

Tinos, Greece. Photo source: Visit Greece.

The number of retired Germans interested in purchasing real estate in Greece appears to be increasing, according to the German press.

A Germany-based real-estate agent speaking to Berliner Morgenpost said the rising demand is due to the Covid pandemic and the need of German travelers to feel safe. As a result, he said, more Germans are seeking holiday homes in Greece.

Indicatively, sales on the Greek islands of Paros, Rhodes, Patmos, Mykonos and Tinos have increased by 70-80 percent compared to 2021. Besides the fair weather in Greece, Germans are taking advantage of the more affordable prices compared to other Mediterranean destinations such as Spain and Southern France, he said.

Paros, Greece.

Another real estate expert interviewed said destinations that are accessible all year round such as the Peloponnese, Crete and Lefkada which is connected to the mainland by a bridge are in higher demand by Germans.

It should be noted that last year, Greece’s Tourism Minister Vassilis Kikilias invited pensioners in northern European countries to spend the winter and fall in Greece taking advantage of the mild winters, lower costs, high level infrastructure and top quality services on offer. Extending the tourism season is a top ministry priority.

At the same time, according to a recent report published in ANA-MPA, the number of property sales to German buyers increased by 300 percent in the first half of 2022 compared to 2021. They chose to invest mainly in seaside homes on Crete or the Ionian isles.