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Sotheby’s International Realty Greece reveals its Luxury Outlook 2022 report on trends in the high-end real estate market in Greece.
Greece Sotheby’s International Realty releases a report on luxury real estate market trends and reveals that relief from the market frenzy may not come quickly, as prices are expected to rise in 2022. In addition, the shift to a hybrid work model is driving more buyers to invest in real estate and seek larger homes to work remotely.
“Our leadership position in the Greek market is stronger than ever. Our sales associates have recorded 2021 demand levels of 4.2 billion euros, twice as much as last year’s record figures, while our sales volume has increased by an astonishing two and a half times compared to the previous year,” comments Savvas Savvaidis, president and CEO of Greece Sotheby’s International Realty.
The 2022 Luxury Outlook report is based on a survey of Sotheby’s International Realty agents worldwide who transact in the $10 million-plus price category, supplemented by data from other industry experts, including UBS Wealth Management, Henley & Partners, and the National Association of Realtors.
Record sales and 2022 outlook
“With strong sales in Paxos, Crete, Paros and Lefkada, our firm now holds 18 all-time national sales records in nearly every prime real estate location in the country. The year 2021 saw historic transactions of up to €16,700 per sqm in beachfront homes, as well as three record transactions in developer condominiums on the Athens Riviera” explains Savvas Savvaidis. “In Greece, Americans, Brits, French, Swiss and Germans are still leading the demand for the 2022 selling season and we are now seeing Greek expats returning to the luxury market” he continues.
In 2022, millennials will be ready to make their mark by investing in real estate, and selecting suburban over urban and rural neighborhoods, according to Zillow’s market data.
With continued investment in public infrastructure, renovated airports, ultra-fast 5G and new state-of-the-art marinas, Greece is one of the most popular destinations for Ultra High Net Worth Individuals in the Mediterranean.
Among the most sought-after destinations are Corfu and Mykonos. At the same time, Athens elegantly combines the advantages of a cosmopolitan capital with the ambiance of a seaside destination. Demand is emerging for islands such as Folegandros, Ithaca and Syros, where sustainability is the focus and privacy is the key word.
The Peloponnese, with its unparalleled scenic beauty, is expected to become the next flagship destination. In addition, major investments are being made in 5-star luxury resorts, new golf courses and wellness services in this part of the continent.
While sales and demand are clearly on the rise, the scarcity of property remains the main challenge for the luxury real estate market in Greece in 2022.
Read also > SOTHEBY’S INTERNATIONAL REALTY MAKES HISTORY IN 2021
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Sotheby’s International Realty Greece reveals its Luxury Outlook 2022 report on trends in the high-end real estate market in Greece.
Greece Sotheby’s International Realty releases a report on luxury real estate market trends and reveals that relief from the market frenzy may not come quickly, as prices are expected to rise in 2022. In addition, the shift to a hybrid work model is driving more buyers to invest in real estate and seek larger homes to work remotely.
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Sotheby’s International Realty Greece reveals its Luxury Outlook 2022 report on trends in the high-end real estate market in Greece.
Greece Sotheby’s International Realty releases a report on luxury real estate market trends and reveals that relief from the market frenzy may not come quickly, as prices are expected to rise in 2022. In addition, the shift to a hybrid work model is driving more buyers to invest in real estate and seek larger homes to work remotely.
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