Real Estate Trends: Greek Buyers Prefer Smaller Properties

Recent data recorded in a nationwide survey conducted by RE/MAX Greece, the country’s largest real estate network reveal that 50% of Greek buyers nationwide prefer properties ranging in size up to 75 square meters.

Comparatively, this year has seen an increase in sales of properties up to 50 square meters and those ranging from 51 to 75 square meters. Larger properties, however, have seen a slight decline in popularity.

Specifically, in the nationwide survey, 24.9% of buyers opted for properties between 51 and 75 square meters, while 24.7% chose smaller properties up to 50 square meters.

Transactions for larger properties remain notable, with 23% purchasing properties sized between 76 and 100 square meters, and around 20% selecting even larger properties ranging from 101 to 150 square meters. Despite their spaciousness, properties exceeding 151 square meters were only chosen by 8.8% of buyers.

Greek buyers’ preference for smaller properties primarily targets investment opportunities that can secure future value appreciation, whereas larger properties are mainly chosen for residential purposes.

Buyers also favor smaller properties due to their affordability and lower maintenance costs compared to larger ones, and significant rental yields are a consideration if they choose to lease them out.

In the Athens-Piraeus region, 27.7% of buyers preferred properties between 51 and 75 square meters, mirroring Thessaloniki where this size category was also popular.

Elsewhere in Greece, a different trend emerges: 29.8% of buyers favor smaller properties up to 50 square meters, marking a 35% increase from last year and establishing these properties as the top choice in those regions.

Source: tovima.com