- Greece’s Athenian Riviera has recently seen a surge in interest from luxury property seekers.
- Beachfront properties and luxury island villas are highly sought after in the Greek luxury real estate market, especially among high net-worth individuals (HNWIs).
- According to the Greek Sotheby’s International Realty report for luxury real estate 2023, Corfu has overtaken Mykonos as one of the most desirable locations for luxury real estate.
The luxury real estate market on the Athenian Riviera has experienced a significant surge in demand during the first half of the year, according to the latest report by Greece Sotheby’s International Realty.
The study, which focuses on the Greek luxury homes market, has established a surge in demand for luxury homes on Corfu and Athenian Riviera. These locations have surpassed the traditionally popular destination of Mykonos, which experienced a decline of 17.9% compared to the same period in 2022.
Corfu has long been recognised as a sought-after destination for luxury property seekers, and it continues to hold its position as the most-requested location.
The city centre of Athens has made significant progress, surpassing renowned island destinations to secure the fourth position in the list of top-requested locations.
The real estate market in Greece is being influenced by international buyers, with those from the US and the UK leading the way – the two nations make up one-third of the total demand.
UK HNWIs interested in the Athenian Riviera property market should explore safe methods of money transfer when looking to purchase primary or secondary residences overseas.
Demand in the Greek property market in H1 2023 significantly increased, while on-site real estate viewings stayed stable, averaging 12.5% to 13% growth when compared to the same period year over year in 2022.
The report also suggests that the Greek luxury real estate market expanded far quicker between 2020 and 2023 than originally predicted. This is suggested to be because of the Covid-19 pandemic accelerating the pace of high-end transactions, while window shopping in the real estate market on the Athenian Riviera remains at a higher rate.
Regarding the current interest of HNWIs in luxury real estate, the report revealed that Greece has remained a consistent and attractive location for luxury property purchases.
The report also observed the location preferences within the luxury property landscape. Beachfront properties are the most desirable due to their panoramic views and access to waterside activities.
Wealthy individuals looking to purchase a luxury home on the Greek real estate market should compare exchange rates.
UK HNWIs and wealthy families can use our online money transfer comparison tool to find the best exchange rates.
