Soaring demand observed for holiday homes in Greece
Soaring demand observed for holiday homes in Greece
  Tourism  |  Hotels  |  Aegean islands  |  Ionian Islands  |  Crete

Soaring demand observed for holiday homes in Greece

How the holiday home market is shaped according to analysis by Engel & Volkers.
RE+D magazine

The growing desire of both Greeks and foreigners to spend their holidays in the sunny Aegean islands has had a positive impact on Greek tourism, leading to increased demand for holiday homes in these areas.

According to the analysis of ENGEL&VÖLKERS the extension and improvement of the tourist season can be attributed to the reliable air connections between the islands and mainland Greece as well as direct flights from many cities abroad. In addition, modern regional airports, ports, infrastructure investments and new luxury hotels that have been developed and continue to be developed complete the natural "puzzle" of the holiday home market in the Greek islands.

"Purchasing a property in the Greek islands offers an attractive investment opportunity for buyers who want to combine the enjoyment of the holidays with the possibility of renting the property for satisfactory returns when they are not using it themselves" points out the company and emphasizes that "at the same time the reduced supply of holiday homes on the more popular islands, such as Mykonos and Santorini, has resulted in buyers becoming more interested in new islands, such as Paros and other smaller islands, which are now being discovered."

This trend according to the analysis is expected to continue until the end of 2023.

Demand is on the rise, with German, Austrian and Swiss buyers currently high on the list as are American, English, Spanish and French buyers. The attractive prices, combined with securing additional income from the short-term rental are two of the parameters that make Greece the first choice.


As far as nationalities are concerned, American buyers (with a significant percentage of them being expatriates) are currently at the top of the list of foreign investors showing interest in buying property on very popular islands such as Mykonos and Santorini, with the aim of to secure additional income during periods when the property is vacant by the owners.


The island of Paros is another notable destination that is showing increased interest due to planned investments in important infrastructure such as its airport, with the aim of further modernizing the island. The Paros holiday home market is showing remarkable trends with increasing demand from domestic and international buyers. The island's natural beauty, charming villages and stunning beaches attract foreign investors looking for a quiet retreat. According to analysts, Paros appeals to a diverse buyer profile, offers rental income potential and provides a desirable lifestyle with a combination of tranquility and modern conveniences.


Syros, which offers a wide range of properties characterized by neoclassical architectural elements, is now on the "target" of foreign investors. These properties are mainly located in historic Ermoupolis, alongside more recently built properties with impressive modern designs.

Tzia, Andros and Tinos

Tzia, Andros and Tinos offer an alternative option for those looking for a quiet destination with good amenities. Buyers according to Engel & Volkers are enchanted by the natural beauty of the three islands, the traditional architecture and the peaceful atmosphere. Luxury constructions and luxury properties are on the rise in Tzia (Kea), while Andros offers a combination of traditional charm and modern conveniences. Tinos attracts buyers with its traditional Cycladic architecture and cultural heritage. Overall, these islands offer a peaceful retreat with modern amenities and easy access to local attractions.


Rhodes has several geographical features, such as impressive mountainous areas and many beaches. The island is also home to cultural monuments of international heritage, luxury hotel complexes while public and private investments are "running", such as the development of Golf Afando. These factors contribute to the popularity of Rhodes as an international holiday destination. Of particular interest to investors is the traditional settlement of Lindos and the surrounding area, which maintained consistently high prices even in the period of the Covid pandemic. Lindos, together with the villages of Pefkos, Vlycha etc. are among the most expensive areas of the island, with a great demand for investments in country houses.


Symi, located near Rhodes, has emerged as a popular destination in the Dodecanese. The special residential environment with uniform neoclassical style buildings attracts investors who want to own their own property. The island combines its glamorous past with a cosmopolitan atmosphere and in the summer months its harbor becomes a busy hub for Greek and foreign super yachts and sailing vessels.


The Patmos holidayhome market is seeing increasing demand from domestic and international investors. The island's authentic charm, historical significance, peaceful atmosphere and commitment to maintaining authenticity are a "pole of attraction". Patmos offers a mix of traditional architecture and luxury developments, catering for all tastes. With its reputation as a religious destination for tranquility and well-being, Patmos offers a peaceful escape and is slowly climbing the ranks.