A developer claims international investors are flocking to purchase properties across Paros and Crete.

Leptos Estates says south east Asian purchasers are spearheading the demand, although there’s also been a sharp rise in British expat purchasers for homes priced between €250,000 and €400,000, as both Islands provide strong investment returns and visa opportunities.

Leptos Estates claims 70% of international sales it’s seen have been from south east Asian buyers followed by Middle Eastern purchasers at 15%, British at 10% and Americans at just 5%.

The development group says international buyers have been drawn to a ‘mixed’ offering on the islands of Crete and Paros, with properties there affording a hybrid investment and lifestyle provision.

Purchasers have been drawn by beautiful beaches with pristine, clean water, alongside the authentic Greek Island lifestyle on offer. 

The company says that from an investment perspective, properties such as the villas, maisonettes, and penthouses available at Aphrodite Beachfront and Molos Beach Village offer strong appreciation and rental potential. Crete and Paros continue to provide an appealing investment opportunity for international capital as reports and predictions suggest property prices and investment returns on the Islands will continue to grow in 2024 and into 2025.

Leptos Estates says Golden Visa thresholds on these islands remain at €250,000 unlike Mykonos or Santorini where they have risen to €500,000. 

Benefits of a Golden Visa include visa free travel across the EU Schengen countries with the ability to also apply for spouses, children, and parents. Furthermore, an investor can keep the Visa without staying in Greece and can renew every five years.

Pantelis Leptos, co-president of Leptos Group of Companies, says: “Paros and Crete are undoubtedly investment hotspots for British expats looking for the perfect holiday home destination. Investors are drawn to the beautiful, authentic homes, situated on idyllic beachfront locations. Alongside this, Paros and Crete benefit from comparatively lower purchasing prices than the offerings in Mykonos and Santorini, whilst still providing substantial monetary returns (both in sales and rent) alongside beautifully finished, new-build properties.

“We have also seen an uptick in Middle Eastern and Asian buyers who have been drawn to both Aphrodite Beachfront and Molos Beach Village due to their size and location. A significant proportion of international investors are siting their desire for properties priced between €250,000 and €400,000 which affords them not only the opportunity to apply for Golden Visas but also provides them with higher end investments. Properties in this price bracket are selling so fast that we foresee possible shortages in the coming months.”