Wealthy UK investors looking to secure prime real estate in Greece have the choice of more than 24,000 properties valued at €1 million or more, across a curated list of 18 highly exclusive areas in the country.
The list, compiled by Astons, identifies the 18 most exclusive homebuying locations in Greece based on the number of €1 million homes currently available to buy as a proportion of live property listings.
Astons found that there were 295,763 homes on the market in these areas, of which 8.2% or 24,243 in total, are valued at €1 million or more.
Prime dominates in the most exclusive markets
However, in the most exclusive Greek markets, prime properties account for a significantly larger proportion of listings. At the top of the list is the Aegean island of Mykonos. There an estimated 1,214 properties are for sale, of which 793 have an asking price of at least €1 million. That means prime property accounts for a staggering 65.3% of the market.
Similarly, in the affluent northern Athens suburb of Ekali, there are 583 homes for sale with a value of more than €1 million, equivalent to 61.6% of all local listings.
In Voula, a suburb of Athens, there are currently an estimated 5,530 properties on the local market, 52.9% of which have a value of at least €1 million. Other markets where luxury homes make up at least 40% of the market include Plaka (42.6%), Spetses (42.2%), Vouliagmeni on the Athens Riviera (41.8%), and Paxoi (40%).
‘Extraordinary’ opportunies for high-net-worth individual
Suzanna Uzakova, senior consultant for residency and citizenship programmes at Astons, says: “Greece continues to offer extraordinary opportunities for high-net-worth individuals seeking luxurious second homes or long-term lifestyle investments in one of Europe’s most desirable destinations.”
“From the cosmopolitan vibrancy of Mykonos to the refined elegance of Ekali and the relaxed metropolitan charm of the Athens Riviera, Greece’s prime property market remains a magnet for discerning UK buyers. Thanks to Greece’s Golden Visa programme, investors can use a property purchase to also secure full Greek residency. Given the exclusive high-end nature of these markets, the minimum investment requirement is €800,000.”
Golden Visa programme offers accessibility
However, she says that Greece is not a market reserved exclusively for the ultra-wealthy because its Golden Visa programme continues to be one of the most accessible in Europe, offering residency to an investment of just €250,000, providing the money goes into the conversion of old commercial buildings into new residential dwellings.
“This opens the door for a much broader range of international buyers and investors to benefit from the lifestyle, stability, and investment potential Greece has to offer. Whether you’re looking for a €1m+ luxury retreat or a strategic foothold in the EU, Greece presents an increasingly compelling proposition, especially as it continues to offer a Non-Dom tax regime after the likes of the UK have abolished theirs.”
