Demand for the acquisition reached 10.4 billion euros. luxury houses in various regions of Greece, registered during 2022 by Greece Sotheby’s International Realty. This is an impressive increase compared to previous years, which gives clear optimism for the future growth of the luxury housing market both this year and in future years.

According to the head of the Greece office, Mr. Savva Savvaidis, “If 2020 and 2021 were milestones for the Greek luxury housing market based on increased sales, then 2022 and 2023 are benchmarks for the country’s long-term positioning in the market. international luxury market map real estate. Records continued last year, with our Athens office setting 22 all-time sales records, including €23 million for a single home in Mykonos.” According to Mr. Savvaidis, Mykonos traditionally ranks first, followed by Corfu, Paros and the Athenian Riviera, but it is worth noting that alternative destinations such as Lefkada, Syros or Milos are also emerging.

As noted by the head of Greece, Sotheby’s International Realty, the Greek market is still facing the same problems as in 2022. interest rateshis administration energy supply and the prevailing geopolitical agenda. “However, in this context, the Greek luxury housing market is showing positive dynamics, confirming in practice the fact that Greece is increasingly gaining leadership in choosing a second or even first home among people with very high incomes.” After the pandemic, the latter are shifting their focus to the quality of life that the Greek market is able to offer, even if they have a competitive advantage compared to other Mediterranean countries that are experiencing saturation with developments.

Greece Sotheby’s International Realty registered a demand of 10.4 billion euros in 2022.

As the Sotheby’s report notes, interest rates, while not strongly and directly related to luxury property sales to very high net worth individuals, indirectly continue to be part of the equation for buyers and sellers. At the same time, internationally, the limited existing supply of luxury real estate, especially in high-demand markets, is increasingly starting to worry both sides of the market.

Finally, according to the report, both at the Greek and pan-European levels, a strong US dollar lays a solid foundation for heightened interest in luxury homes.

The importance that the Greek market has begun to acquire in the Sotheby’s network is evidenced by the fact that the Luxury Outlook report was published, edited annually by the international house and covering 81 markets worldwide with data from more than 1000 offices worldwide. first time in Greece.