Unlike Bulgaria, where most home buyers prefer new construction, the opposite trend is observed in Greece. There are several reasons for this. First of all, the old properties in our southern neighbor are cheaper. Second, in the future they can be resold at a profit if the house is modified in terms of energy consumption.
The popularity of the old building is also due to the fact that new buildings rarely appear in Greek cities. In 2023, they account for just 15.5% of sales transactions.
It is an interesting fact that in Attica and Thessaloniki, old housing accounts for about 80% of the demand.
At the same time, housing still remains the absolute leader in terms of investment attractiveness in the real estate market. Almost 84% of transactions are for this purpose. In second place (just under 13%) is the land market.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE