The real estate market in Halkidiki, mainly holiday homes, is on a developing trajectory and with an upward trend, with the interest of Greeks and foreigners focusing on the first leg of the Municipality of Kassandra, due to the abundance of properties on offer, but also in Nikiti Sithonia, due to of the reconstruction taking place in the area.

These were highlighted during an event held today by the Association of Realtors of Halkidiki, in which the market research conducted online between January and September 2023, among the 52 active members of the body, was presented. The event, in which the president of the Association, described as very encouraging and positive that “one in three purchases and sales that take place in Greece concerns tourism”, took place in the context of the Real Estate Expo which is organized for the second year this year in Thessaloniki and “runs” together with the exhibition duo for tourism, Philoxenia and Hotelia.

Based on the real estate market survey in Halkidiki, which was presented by the vice-president of the Association, 41.2% of those who have invested in Halkidiki are Balkan buyers (Bulgarians at a rate of 16.5%, Serbians at 15.3% and from North Macedonia to 9.4%), while the percentage of Germans who voted for Halkidiki amounts to 9.4% and to 7.1% of Israelis. On the contrary, a “plunge” appears – from the data of the research – to have marked the purchasing interest of the Russians, at 4.7%, while the percentage of those who invested in the region from Central Europe is similar, while that of the Greeks stands at 22 .4%.

Regarding the situation in the real estate market, 45% of respondents answered that it is rising, 35% stable and 20% downward, while regarding the price trend for properties for sale, 76.2% speak of an increase and 23.8% “see” stabilizing trends.

As far as the Golden Visa is concerned, for six of the ten agencies that participated in the survey it is… non-existent. In the first 9 months of 2023, 60% of the survey participants answered that they did not sell a single property through this program involving third country citizens. In fact, the research shows that 5% of the 40% of offices that buy and sell through the Golden Visa program sold more than 50% of what was bought.

Buyers are investing in old and affordable properties

According to market research, 54% of investors choose properties over 15 years old, while only 10.8% choose new homes. When asked if the property needed interventions, 26.9% answered that an extensive renovation was done, 61.5% spoke of few technical interventions and 11.5% that they were sold without any lifting.

In terms of prices, 50% of the properties sold during the period under review were from 500 to 1,500 euros per sqm, 40% from 1,500 to 2,000 euros and only 10% were sold from 2,000 to 2,500 euros per sqm.

When asked “what is the main type of property sold by your office?”, 66.7% were residential, 4.8% commercial and 28.6% land. 29.6% of the properties sold were for investment purposes, 63% for holiday homes and 7.4% for residences.
Brokerage is the main problem

The issue of brokerage is the main problem for 22.4% of the survey participants, the local government for 16.5%, the Land Registry for 15.3%, the forest offices for 9.4%, the DOU for 9.4%, the Archaeological Service for 7.1%, lawyers for 4.7%, while the percentage for notaries is similar.

66.6% of the survey participants noted that the state transformation did not help at all in the easier and faster issuance of supporting documents required to conclude a contract, 14.9% answered that it helped a little and 19% moderately.

 

Source newmoney.gr