At Spitigkonzalez, we see in our data that demand is not at all random. There are specific sizes, ages of buildings, and areas that attract the most interest, and others that are under pressure. If you have a summer house or are thinking of buying one, the question is not only how much it costs but also which category of the current market your property belongs to.
1. The demand profile: the market has polarized
Analyses of the real estate market in Greece show that demand, especially from abroad, is increasingly concentrated at two extremes.
Small, newer properties 35-70 sq.m.
Intended for use as a vacation retreat or more often for investment purposes through short-term rentals. Modern, functional apartments or small houses are in demand, with good access to the sea/infrastructure and limited renovation needs.Luxury properties over €600,000
In this segment, there has been a very strong increase in transactions in recent years. Some reports estimate that 1 in 4 holiday homes sold now falls into this price range. It mainly includes villas, large seaside properties, and properties in internationally recognized destinations.
The biggest victim of this polarization is the middle, older properties of 80-120 sq.m.. Throughout Greece, we see that their share in transactions is decreasing, while newly built and very high-end properties are increasing their weight.
In simple terms, if you have an older, medium-sized vacation home, you no longer compete in the mainstream of demand. The market demands a discount for you to be chosen over newer or more specialized properties.
2. Where do foreigners look and why
Data from the Greek real estate market show that the map of international demand has begun to clarify.
Crete
Remains the number one choice for foreign buyers, combining climate, air connectivity, and availability of different types of properties (from small apartments to villas).Corfu
Strong demand from Northwestern Europe, with emphasis on properties with sea views, access to the sea, and traditional character.Kalamata / Costa Navarino Area
International exposure and large resort projects have attracted attention and capital. Here, the market is more premium and discussions are at a different price level.Thessaloniki
Emerging destination for foreign investors, with lower prices than Athens and potential for capital appreciation in specific neighborhoods.
At the same time, the profile by country varies.
Germans and French often focus on holiday homes mainly for personal use (second homes).
Dutch and Israeli buyers are more focused on yield and future resale, with greater flexibility in short-term rentals, more active markets, and exit possibilities in 5-10 years.
3. If you have a holiday home, which category do you belong to;
This is the critical point for you. If you own a holiday home (or are thinking of buying one), you need to know exactly where your property fits within this new landscape
Is it small/medium/large;
How old is it;
In an area with international demand or a more domestic destination;
What is the price level of your area compared to hotspots (Crete, Corfu, Costa Navarino, Thessaloniki);
For example, if you own an older holiday home of 90-100 sq.m. in a non-prime area, you should know that:
you are competing with newer, smaller houses entering the market with modern aesthetics and less renovation needs,
buyers, especially foreigners, now have data and know how much a newly built 60-70 sq.m. property costs just a few kilometers away.
Therefore, the discussion is not just about how much such a holiday home cost in 2019, but where your property stands today in relation to the buyer's actual alternatives.
4. How Spitigkonzalez helps you see your position in the market
This is where the tools and data of Spitigkonzalez come into play. Through the weekly Sale Market - Top 15 Most Volatile Markets, you see:
which areas see increases or decreases in average prices,
which markets have high activity (many new and withdrawn listings),
where the market is mature and where emerging.
With SpitiAI, you can ask very specific questions, such as:
How do the selling prices in my holiday home area compare with prices in Crete/Corfu/Kalamata/Thessaloniki;
What percentile range does a house like mine (size, age, location) fall into compared to the rest of the market;
Do you consider my area a mature or emerging market? What are the pros/cons for a small investor;
If you are a holiday home buyer, you can do the opposite.
Show me 3 areas in Greece that attract foreign buyers, with a budget up to X €.
Where do I have the greatest potential for appreciation if I hold the property for 10 years;
5. What does this practically mean for you
If you have a holiday home in one of the areas with international demand, the likelihood of finding a buyer is high. However, the question is not whether you will find a buyer, but at what price and with what level of negotiation. Foreign buyers have access to data, compare areas, sizes, and ages of buildings, and know when a price is unrealistic.
If your property is older, larger than what current demand seeks, or priced above the market, negotiations will not be based on emotion but on numbers.
Your advantage is to enter this discussion having first seen the same numbers
to know how prices in your area compare to magnet areas,
to know if your market is mature (stable) or emerging (with more risk/opportunity),
to have a realistic picture of what you can ask for and where the deal will logically close.
This is exactly what Spitigkonzalez does. It takes real estate market data in Greece and presents it in a format that can be used by small investors and holiday home owners. So that not only foreigners know what they are buying but also you know what you have.
