International Investors Drive Property Boom in Paros and Crete
Leptos Estates, a leading real estate developer in Greece and Cyprus, has witnessed a surge in property purchases on the islands of Paros and Crete by international investors. This buying spree is primarily driven by Southeast Asian investors, who account for a significant 70% of sales. Other major contributors include buyers from the Middle East (15%), the United Kingdom (10%), and the United States (5%).
The popularity of Paros and Crete among international investors stems from the islands’ exclusive mixed-use properties, which combine lifestyle and investment benefits. These developments, such as Aphrodite Beachfront in Chania, Crete, and Molos Beach Village in Paros, boast stunning beachfront locations, pristine environments, and luxurious amenities. These properties are not only appealing for their lifestyle advantages but also for their investment potential, offering solid appreciation and excellent rental prospects.
The ongoing rise in property values and the favorable investment climate in Greece are projected to continue into 2025. Paros and Crete, in particular, have gained traction due to their lower Golden Visa thresholds of €250,000, compared to €500,000 in islands like Mykonos and Santorini. This visa program offers significant advantages, including visa-free travel in the Schengen Area and the option to include family members, without the need for prolonged stays in Greece.
Pantelis Leptos, Co-President of the Leptos Group of Companies, highlights the appeal of Paros and Crete as investment destinations, particularly for investors from the Gulf Cooperation Council (GCC) seeking holiday homes or European bases. These islands provide exceptional value and potential for high returns on investment compared to more expensive locales.
With the sales of properties like Aphrodite Beachfront nearing completion, Leptos Estates is preparing to launch new beachside apartment projects in Chania, including locations such as Maleme Beach and Nopigia Beach, to meet the robust demand for properties in these sought-after destinations.
