The economic slowdown that COVID-19 regulations have inflicted on the Greek economy did not put off the super-rich interested in buying luxury properties in Greece. The Greek daily Kathimerini quoted property professionals who said that the interest was being expressed by multi-billionaires.
“In the period from 1 to 25 May, we recorded a 53.5 per cent increase in expressions of interest for the purchase of luxurious holiday residences in Greece, compared to the same period last year,” Savvas Savvaidis, Chairman and CEO at Greece Sotheby’s International Realty was reported as saying.
“What those investors have always sought after, and even more so today due to the pandemic, is privacy and security. In Greece these are both available in abundance, with the properties being offered to them located on major plots or in isolated areas, and definitely not within major holiday settlements as is the case in other regions in the Mediterranean, such as Spain or the South of France,” Mr Savvaidis said.
He said that the super-rich had focused on properties that were 25.53% more expensive, totaling €3.11 million ($5.03 billion,). The prospective clients were especially interested in Greece, which has one of the world’s best records in holding down the number of COVID-19 cases and deaths.
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Many of the very rich have become much wealthier in recent months because their investment portfolios had included technology companies that had greatly benefited from COVID-19 restrictions that forced people to switch to online buying and to working from home.
According to data from Sotheby’s the visitor number to real estate websites in Greece had soared when compared to last year’s figures.