The factors that drive up prices on properties for sale in Greece are usually influenced by the high unemployment rate, the imposition of new high property taxes and the general political and economic situation.
More specifically the buyers demand and the continued buying of real estate in the same regions of Greece are setting prices high. Usually, the areas with the highest investment interest have the most expensive prices, which means that the commercial value of the property exceeds its fair value.
An unwritten law in the local market sets prices on the real estate market, as the seller is affected by the region’s reputation and the increased demand of investors.
Airbnb & Golden Visa also boosted property prices in areas with high tourist traffic.
But what are the main features that really determine the value of properties for sale in Greece today?
The value of an apartment for sale Greece is determined by the following:
- Home size & usable space,
- Location of the property,
- How developed is the area where the property is located,
- Profile of the property-condition,
- Legal Property Status,
- Age of building,
- The architectural features and layout,
- Area features (main street, school and shops, supermarket and general amenities),
- The floor on which the apartment is located,
- Recent refurbishment – maintenance,
- Transport accessibility
The commercial values of the plots determine:
- Building ability & coverage Area, Segment ability,
- Distance from the sea,
- Distance from urban center,
- The view,
- Accessibility to the plot,
- Prospects for integration into the plan,
- Allowed land uses
In conclusion, real estate prices in Greece are affected not only by their positive or negative features but also by the region’s reputation or buyers’ preferences and this, in turn, has an effect on trading price.
Trust an experienced real estate agent who knows the Greek Real Estate market and the buyer’s requirements. The broker will evaluate and propose to you, a fair value of your property to sell it quickly and reliably.