Home sales on Greek islands jump

Holiday home transactions on selected islands of the Cyclades recorded a 54 percent annual increase in the first half of the year, according to an analysis of data from the Property Transaction Value Register of the Finance Ministry's General Secretariat of Information Systems.

The analysis, conducted by Geoaxis Property & Valuation Services, notes that the majority of buyers originated from other countries and that some of sought not only to acquire a holiday home in Greece but also to secure a residence permit for non-European Union citizens (Golden Visa).

Bank of Greece data for the first quarter of the year show a 130 percent year-on-year growth rate in capital inflows from abroad for the acquisition of properties.

Geoaxis also reports a notable increase in holiday home prices, with the biggest of these seen on Santorini: The popular Cycladic island has an...