Official data from Greece’s statistical authority, ELSTAT reaffirms a surge in
Official data from Greece’s statistical authority, ELSTAT reaffirms a surge in foreign buyers’ interest in newly built, energy-efficient holiday homes and properties, as construction activity in the housing market saw a sharp rise in 2024.
In recent years, there has been a notable shift among residential property developers toward the holiday home market in Crete.
According to ELSTAT, from January to November 2024, building permits were issued for 3,503 homes—a 17.8% increase compared to 2023 (2,972 homes) and a 45.8% rise from 2022 (2,401 homes). Chania recorded the highest increase in residential building permits, up 46.5% from 2023 and 61.8% compared to 2022.
An analysis by Elxis – At Home in Greece, a company specializing in selling holiday homes to foreign buyers, shows a significant increase in construction activity as early as the first 11 months of 2024. This rise surpasses not only the total for 2023 but even more so that of 2022.
These figures confirm the rapid growth in investment for the construction of new holiday homes, driven by demand that far exceeds supply, as George Gavrillidis, CEO of Elxis notes.
“The demand continues to outstrip supply, and prices have been steadily rising over the past few
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