Greek Islands Winning Over Foreigners Looking to Buy Homes

Naxos, Cyclades.

The Greek islands continue to be the top destinations for buyers seeking to invest in property, according to the latest data released by real estate listings company Spitogatos.

More specifically, according to Spitogatos Insights, property prices for the Cyclades and the Saronic islands which are closer to Athens are on the rise.

Indicatively in May, the most expensive places to invest in real estate were Mykonos, Paxos (Ionian Islands), Skiathos (Sporades), Hydra, Patmos (Dodecanese), Ikaria, and Chania (Crete).

Going rates below 2,000 euros per square meter were found on Skopelos, Salamina, Rhodes and Kos, Chios, Evia, and Rethymno and Lasithi (Crete).

Lower rates could also be found on Corfu, Leros, and Samos.

Corfu, Greece.

According to Spitogatos’ analysts, interest by international buyers for the Greek islands is up compared to last year but demand by investors from Greece has dropped.

Foreign demand for homes in the Cyclades has picked up over last year by buyers in the US, UK, Germany, France, and Switzerland with Paros, Syros, Naxos, and Mykonos topping their list.

International interest in acquiring property in Greece is backed by the country’s Golden visa program which despite the increases to limits, still has a long waiting list.

The government announced earlier this year changes to the program increasing among others the threshold to 800,000 euros for saturated areas which include popular tourist destinations and urban centers.