Foreign buyers replace Greeks

Demand by Greeks for the purchase of property is in decline, linked to the estimates for a slight slowdown in the rate of price growth by 2025, per the latest survey by the Spitogatos.gr network, while interest from abroad keeps growing.

According to the analysts, in the first quarter of this year demand for buying residential property decreased annually by 4.2%, while international interest increased by 11.8%. The shrinking of deposits and the intention to save, at least among certain categories of the population (e.g. office workers, employed in the provision of services), as demonstrated by a recent study by Alpha Bank, combined with the significant strengthening of asking prices, are behind the decline in domestic demand.

On the contrary, foreign investment interest in the real estate market has been increasing over time, after the 5% growth in international...