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Property prices in Greece 2017–2018

Greece owns more than 6 thousand islands, but only on 227 of them people live. Rhodes, Lesbos, Corfu, Santorini and Mykonos are the most popular islands among wealthy property buyers.

The cost per square meter in Greece is lower than in most European countries: in many locations the price does not exceed 1 thousand euros. Another argument in favor of Greece is the possibility of obtaining a European residence permit when purchasing an object with a value of 250 thousand euros or more.

According to the Bank of Greece, in the first quarter of 2017, real estate in Athens was 44% cheaper than the peak level of 2008. This is a great potential for rising prices, while the Greek economy is beginning to gradually recover.

In Greece, you can purchase both cheap apartments with prices from 50 thousand euros, and luxury villas on the coast from 1 million euros. The price depends on the proximity to the sea, the level of infrastructure development and transport accessibility.

Athens, Corfu, Crete and Thessaloniki are the most popular foreign property buyers.

Athens is the economic, cultural and administrative center of Greece. A square meter here costs about 1,400 euros on average. Apartments in the city are sold for 200-400 thousand euros, but you can find cheaper offers for 70-80 thousand. Prices for private houses reach several million euros.

Thessaloniki is the second largest city of Greece with a population of more than 700 thousand people. Here are the University of Aristotle, the airport of Macedonia and the seaport, by its economic significance, ranks second after Piraeus. A square meter in Thessaloniki costs an average of 1,400 euros. The cost of apartments starts from 70 thousand euros, homes – from 100 thousand.

On the peninsula of Halkidiki, small cities and towns are in demand: Nea Moudania, Pefkohori, Neos Marmaras, Nea Skioni, Chanioti. The prices for apartments here start from 70 thousand euros, the average cost of private houses is 150 thousand.

Foreigners often buy property in Crete. Rethymno, Stavromenos and Elounda are the most popular local resorts that are visited annually by tens of thousands of tourists. In Crete, they usually buy a second holiday home, where they spend several months a year. Prices for apartments here start from 70 thousand euros, villas cost an average of 3 million euros.

Many buyers are interested in real estate in the Ionian Islands, especially in Corfu and Kefalonia. Corfu is the northernmost island and the second largest in the archipelago. The most popular property in the central and northeastern districts of Corfu: from Kontokali, Gouvia and Dassia in the north to the exclusive Agios Stefanos and Kassiopi in the south. Apartments with 2-3 bedrooms cost an average of 100-200 thousand euros, individual houses with land plots range from 300 thousand to several million euros.

In Lefkada and Zakynthos, which are also part of the group of the Ionian Islands, they often acquire real estate for subsequent rental. Ithaca Island is suitable for lovers of a measured lifestyle, since there are few tourists here. Villas and houses in Ithaca cost 400-600 thousand euros.

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