Greece real estate sees rising foreign demand for permanent residency

Foreign interest in the Greek real estate market remains strong, with a significant shift toward permanent residency. According to data from Elxis At Home in Greece, approximately 30.8% of foreign buyers are now seeking properties for permanent settlement rather than just holiday use. This trend is bolstered by tax incentives for foreign retirees, who can benefit from a 7% income tax rate for 15 years.

Most international buyers, including those from the US, Germany, the UK, and the Netherlands, prefer villas (68.2%) and new or off-plan constructions (71.7%) that allow for immediate occupancy. Investment budgets frequently range between €320,000 and €600,000.

Geographically, Crete leads demand at 42.9%, followed by the Peloponnese (22.9%) and the Ionian Islands (12.7%). In the Halkidiki region, Sitonia remains the most expensive area, with average asking prices around €3,000 per square meter.