Demand for holiday homes from US and Canadian buyers has increased by 50% in the first half of this year, Elxis – At Home in Greece data show, illustrating the increased appeal of the Greek market in countries outside the EU.

“Until recently, the main origin of the purchasing public for holiday properties in Greece was countries of Central and Northern Europe, such as Germany, France, the Netherlands, Belgium and Switzerland,” says George Gavriilidis, CEO of Elxis, which specializes in promoting holiday homes to foreign buyers. But he adds: “This year’s sharp increase in interest and purchases from America indicates a significant development and expansion of the countries to which the Greek market is now addressed.” 

Notably, 30% of these buyers are second- or even third-generation Greeks. “This shows the shift toward Greece is not only an investment, but also a ‘return to their roots,’ as they try to reconnect with their country of origin,” Gavriilidis says.

The increase in US purchasing interest is also explained by the increasing intention of many Americans to improve their quality of life by moving to other regions of the world, with the countries of southern Europe, including Greece, becoming popular destinations. Elxis had identified this trend from early 2024, but since the presidential elections (fall 2024), there has been a significant acceleration in the flow of American citizens and investors abroad.

A key factor for Greece has been the improved air access through direct flights, which now reach Athens from five US cities (Philadelphia, New York, Charlotte, Chicago and since last month Dallas, opening up the very important Texas market).

According to Elxis, 70% of US and Canadian buyers choose to acquire newly built holiday homes, bought during or even before their construction. The remaining 30% prefer existing homes. The average expenditure per buyer is €448,000.

Just 11% have made use of the opportunity offered by the “Golden Visa” residence permit program.

Crete maintains its primacy of investment interest for Americans, while the Ionian Islands follow, also recording high demand.

UnmuteRemaining Time FullscCrete maintains its primacy of investment interest for Americans, while the Ionian Islands follow, also recording high demand.