Rhodes property attracts more international buyers
July 04, 2016 - Rhodes
The market for holiday homes particularly rose in the second half-year of 2015, says Georg Petras, Managing Partner of Engel & Völkers on Rhodes and the Residential Property Shop grew revenues by 8% year-on-year.
“The reason for this is Greece’s continued presence in the Eurozone and the record numbers of visitors on Rhodes last year. The high level of demand for first-class homes on Rhodes can be attributed primarily to clients from Central Europe.”
The largest group of buyers at 33% are Germans, with Britons on 25% and France and Belgium on 13%.
The most desirable locations for holiday properties on Rhodes remain Lindos and the nearby resorts of Pefkos and Vlicha. In addition to classic villas, traditional captain’s cottages are especially sought-after, says Engel & Völkers.
Interested buyers pay average prices per square metre of up to €4,000 for homes in very good locations. Prime villas fetch up to €7,000 per square metre.
There are also high numbers of prospective buyers on the east coast of Rhodes. Prices are rising due to the limited availability of properties and the low level of new construction, but remain more moderate than Lindo.
Houses, on average, fetch between € 2,500 and €3,000 per square metre. High-end holiday properties near the coast with direct access to the sea and outstanding views can reach as much as €4,000 per square metre.
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Trends, Investment property, foreign investors