German Pensioners Keen on Buying Property in Greece

The number of German pensioners interested in buying a property in Greece appears to be increasing.

A real estate agent from Germany who spoke to German press said the rising demand for purchasing real estate in Greece is due to the Covid pandemic and the need of German travelers to feel safe. As a result, more Germans are seeking holiday homes in Greece.

For example, sales on the Greek islands of Paros, Rhodes, Patmos, Mykonos and Tinos have increased by 70%-80% compared to 2021. Besides the fair weather in Greece, Germans are taking advantage of the more affordable prices compared to other Mediterranean destinations, such as Spain and Southern France, according to the same source.

Destinations that are accessible all year round such as the Peloponnese, Crete and Lefkada, which is connected to the mainland by a bridge, are in higher demand by Germans. At the same time, according to a recent report, the number of property sales to German buyers increased by 300% in the first half of 2022 compared to 2021. They chose to invest mainly in seaside homes on Crete or the Ionian isles.

Tourism Minister Invites German Pensioners to Holiday in Greece

It should be noted that last year, Greece’s Tourism Minister Vassilis Kikilias invited German travelers to visit Greece beyond the summer season, encouraging pensioners to take advantage of the mild winters, lower costs, high level infrastructure and top-quality services on offer. Some of the areas he recommended were Crete and the Southern Peloponnese, which also have efficient health services and hospitals.

Kikilias went on to add that the ministry was in negotiations with German tour operators who are considering competitive package deals for Greece in the winter focusing on the warm weather. He added that the increasing frequency of direct flights and the addition of new destinations by German air carriers had contributed greatly to higher visitor numbers from Germany.