Italy loves Greece, especially during summer! This realization comes from the research conducted by Immobiliare.it and Spitogatos.gr, the top property portals in Italy and Greece, which analyzed the searches of Greek real estate on the website and compared these numbers with those of the previous year. The research revealed a 31.6% increase in property searches in only one year!
Italians are mainly looking for a real estate on the seaside or in one of the many beautiful islands of Greece, with a preference in land investment in the countryside or in complete renovations of ruined properties to build villas. The average budget for an Italian buyer accounts for around 500 thousand euros, which is a considerable amount of investment.
The analysis shows that the most popular areas of search interest are the Cyclades islands. The second place is occupied by Corfu and Kefalonia, the Ionian islands which are very geographically close to Italy. There are also substantial property searches in Peloponnese, Messenia, Elafonisos and Methana, in particular.
An average increase of 10% in prices per square meter is observed for the 10 most preferred areas for potential buyers. The protagonist in the hearts of Italians is Santorini, where the average price per sqm equals to 3,466 €, and with the price increase of 18.2% from last year. Kefalonia had the most noticeable price rise (+26.4%) with an average price per sqm of 2,030 €.
For the Italian buyers with lower budget, the real estate investment in Messenia in Peloponnese and Karpathos in Dodecanese is considered a good opportunity. Due to the fact that they still are not recognized as touristic attractions, you can find properties to buy with less than 1,500 €/sqm.
Τhe research results were published on multiple media such as republicca.it and it.finance.yahoo.com.
Spitogatos team
