Rhodes: Demand for holiday homes grows by 57 percent

The Engel & Völkers Residential Property Shop on Rhodes is registering an increase in international client enquiries. In the first quarter of 2017, the number of enquiries from interested buyers rose by 57 percent over the previous year. The E&V Shop also increased its revenues in the first half-year of 2017 by around 60 percent over the previous year. This can be attributed to the current recovery of the tourist industry. “The political situation in Greece has improved significantly. We are therefore expecting property prices to rise further in the long term,” said Georg Petras, Managing Partner of Engel & Völkers on Rhodes.

Growing demand for properties in the premium segment
Lindos, Pefkos and Vlicha on the east coast of Rhodes remain the most sought-after locations for holiday properties on the Greek island. In the first quarter of 2017, square metre prices of up to 7,000 euros were paid for first-class properties here in very good locations. The villages of Koskinou and Afandou in the north of the island are also becoming increasingly popular with prospective buyers. Kiotari, Gennadi and Lahania in the south of Rhodes are experiencing a rise in demand too, due to their direct beachfront locations. 

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Majority of search clients are from Germany
The growing demand for premium holiday properties on Rhodes stems mainly from interested buyers based in Central Europe. The holiday property market is dominated by clients from the German-speaking world, accounting for almost 50 percent. They are closely followed by buyers from France, the UK, and overseas. Moreover, growing numbers of investors are discovering the holiday island and planning major new building developments. “International guests are drawn to Rhodes for its marvellous all-year-round climate, its good infrastructure and excellent flight links from many European airports,” said Georg Petras, adding, “We are optimistic that foreign buyers and investors will continue in the future to invest in holiday properties of intrinsic value on the island.”

Posted in Residential.