Demand for Luxury Property in Athens Surpasses Mykonos.

The second market report for the luxury real estate market in Greece has been released by Greece Sotheby's International Realty, including qualitative industry analysis from 8 additional regional offices of the Sotheby's International Realty network in the Mediterranean.

The figures show that in 2023, the Athenian Riviera's popularity topped that of Mykonos for the first time, with a 25.8% increase in buyer demand requests. However, the Athenian Riviera, Mykonos, and Corfu saw the highest overall demand this year. Athens and Paros were fourth and fifth, respectively.

Both demand inquiries and on-site real estate signals for Greece showed continued growth in the first quarter of 2023. The equivalent index, however, was 12.2% rather than 13% in the corresponding period in 2022.

Sotheby's International Realty Greece - Oasis

The survey says that this might be because purchasers have grown more particular about the qualities they look for in a home, in contrast to their more open mindset pre-pandemic. After three years of strong transaction volumes, notably in respect to beachfront properties, there has been a reduction in the supply of "unique homes."

The 'conversion' rate also went up somewhat from the same time period in 2022, with 8.6% of indications leading to a contract compared to 7.2%. None of these numbers even come close to matching the performance of the first half of 2021, when the equivalent index hit 14.1%.

Savvas Savvaidis, president and CEO of Greece Sotheby's International Realty, notes: “As far as the Greek market is concerned, the data documents in the most concrete way that we are in a period of "selective buyers ". Looking coolly and macroscopically at the 2020–2022 market, it is confirmed that many purchase decisions were accelerated and came much further ahead in time. Buyers looking to position themselves in 2023–2025 made more immediate decisions given the broader macroeconomic context.”

Sotheby's International Realty Greece - Oasis

“Having a clear picture of the first half of the financial year, we can confidently say that interest is there and it is strong; however, sales are closing for the properties that meet all the criteria of discerning buyers: Sea front properties, properties in the - now autonomous - Athenian destination, and properties in truly unique locations on the islands or mainland Greece. The above conclusions are also confirmed by the relevant qualitative analyses carried out by our office in eight other regional offices of the Sotheby's International Realty network in the Mediterranean, implementing for the first time a technocratic approach of this magnitude for the behavioural patterns of high-net-worth individuals (HNWI).”

The Oasis Apartment

Oasis's all-inclusive amenities, top-notch infinity pool, and breathtaking ocean vistas will take your breath away. Enter a contemporary setting that captures the upscale vibe of the Athens Riviera in every detail.

Oasis, which occupies the upper floors of the building, has a living area that is both beautiful and comfortable, amazing double-height ceilings, three spacious bedrooms, and state-of-the-art smart home capabilities. The luxurious atmosphere of the Mediterranean can be felt throughout each room, which is decorated with clean lines and mild colour inlays.

Sotheby's International Realty Greece - Oasis

Oasis is the first building in Athens to have such cutting-edge conveniences as a spa, health club, workout centre, concierge, and round-the-clock security. This luxurious mansion is unparalleled in its grandiosity and is filled to the brim with lavish features.

Oasis is situated in a picture-perfect location, just 150 metres from the beach and 600 metres from the central centre of trendy Voula, one of Athens Riviera's most desirable neighbourhoods. It is the perfect place to find both tranquility and enticing vitality, thanks to its golden shores, huge marinas, and globally famous restaurants.

The building of Oasis has begun and is expected to be finished in May 2024.

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