Foreign buyers aim to capitalise on increasing tourism in Greece
Foreign buyers are increasing in Greece as they aim to take advantage of the country’s increasing tourism, which is projected to surpass last year’s figures.
Figures released by the Bank of Greece showed that capital from abroad increased by 61.7%. This shows an improvement from figures provided in March which showed a rise of 56.7% in the first few months of 2017.
Should the growth rate continue throughout this year, it is predicted that over €430m will have been invested into the Greek property market from abroad. To compare that to 2016, the amount invested was €270m.
The last time such an upturn was recorded was in the early part of 2007 at a time when the Greek economy was one of the fastest growing in the Eurozone before the debt crisis took hold.
The main focus of the rise is Athens with demand for apartments increasing mainly due to short-term leasing from platforms such as Airbnb and HomeAway.