Vacation home buyers in Greece are primarily aged 50 and older, consisting of entrepreneurs and senior business executives, according to a recent analysis by Elxis-At Home in Greece. Having accumulated savings, potential buyers tend to seek high-end, newly built properties, with the majority of purchases falling within the €250,000 to €600,000 range.

In previous years, budgets typically capped around €450,000 to €500,000, with most buyers spending closer to €300,000 to €350,000. However, demand for more expensive homes featuring luxury amenities, such as private pools and sprawling gardens—priced over €500,000—has increased.

Entrepreneurs and business executives, predominantly aged 50 to 60, are the primary investors, mostly purchasing homes for personal use. Meanwhile, a younger group, aged 35 to 45, with high incomes, is also emerging. These younger buyers not only seek personal vacation homes but also plan to rent them out or resell them later for tax-free capital gains.

Older buyers generally use their properties exclusively for personal enjoyment and rarely rent or sell them for profit. In contrast, younger buyers, particularly those from the Netherlands and Belgium, are more likely to use the property as an investment when they are not staying in it. Dutch buyers, in particular, are more open to selling quickly if they can secure a good profit.

Elxis reports that vacation home prices in Greece have been rising steadily by 8%-10% annually, depending on the region. This trend is expected to continue, making Greece an appealing destination for those looking to invest in secondary homes.

Buyers from the US and UK are mostly focused on personal use, with some also aiming to secure a Greek residence permit through the Golden Visa program. After recent changes, the minimum investment threshold for this program has risen from €250,000 to €400,000 for mainland properties, and up to €800,000 for island properties.

German and French buyers, like their counterparts from the US and UK, often prioritize personal use, although some also aim to generate income through short-term rentals. A portion of German and U.S. buyers, around 10%-20%, are expatriates looking to purchase their first home in Greece, the country of their origin.

Buyers in the €250,000 to €600,000 price range choose properties in both highly touristic areas and less publicized locations. Northwestern Europeans, including Dutch, Belgians, Germans, Swiss, and French, tend to prefer Crete, the Ionian Islands, the Peloponnese, and Rhodes. Some also seek opportunities in the Cyclades, which attract buyers from the US as well, due to good investment potential.