Sotheby’s: The Athenian Riviera is first in demand for luxury properties

The annual survey of Greece Sotheby’s International Realty recorded strong demand for luxury properties from Greeks in 2024, while the Athenian Riviera emerged as the first region in demand last year.

Specifically, the conclusions of the house’s 3rd Market Report are:

The large domestic increase in interest in 2024 led the Greeks to first place, representing a 16% share of total demand. The United States follows closely behind with a share of 16%, although it experienced a decrease of 4.3% compared to 2023. The United Kingdom is in third place, which recorded an increase of 17%. The top five also include France (share of 9%) and Germany (share of 4%), although both recorded small decreases.
As for the individual geographical areas, the Athenian Riviera is at the top of the demand, constituting 17% of the total requests, while at the same time, the entire capital gathered 30% of the total demand. Corfu remained consistently high in preferences, occupying 2nd place, while the center of Athens, Crete, and Lefkada completed the top five. Mykonos fell to 6th place with requests falling by 18% compared to 2023, while the islands of Tinos, Paros, and Kea also recorded a decline.
The Greek market remains dynamic, with the house’s total sales in Greece reaching 500 million euros in five years.

Optimistic Forecasts for 2025

This year’s survey was expanded to 17 international Sotheby’s International Realty offices. The estimates from most offices are positive for 2025. The only offices that estimate that demand will remain the same in 2025 are those in Paris, Miami, Hong Kong, and Cyprus, with the first 2 of them ranking demand in 2024 as high anyway.

Commenting on the results of the survey, Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty stated:

“2024 was a landmark year for our company with even greater sales records and increased investment interest in Greece and abroad. Buyers clearly showed a stronger appetite for luxury real estate purchases, a fact confirmed by our data analysis, as well as the significant increase in sales volume compared to the previous year.

The market dynamics are shaped by a set of factors, including the stability of the macroeconomic environment, the availability of quality real estate, and the increased demand for locations that offer both investment value and a high standard of living.

For us at Greece Sotheby’s International Realty, constant market monitoring and the provision of valid data is a priority. This year’s survey, which expanded to 17 Sotheby’s International Realty offices, allows us to gain an in-depth understanding of global trends and ensure that the Greek luxury residential market remains at the top of the list of choices for High Net Worth Individuals (HNWI) buyers.”

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