Inquiries from mainland Chinese and Hong Kong buyers, looking to purchase Greek property, shot up 40% in the first quarter of 2022, compared to Q4 2021, according to consultancy Henley & Partners.

Demand for houses in Greece may have been boosted by recent restrictions on Portugal’s popular golden visa scheme, said the firm. As a result, Greek property is getting the attention of Chinese buyers seeking permanent residency.

Greece’s fast-track residency programme, which has been in place since 2013, received 36% more inquiries in the first quarter of 2022 than in the whole of last year, according to consultancy Henley & Partners.

However, demand for Greek property is not just coming from Asia, and European buyers are also choosing Greece among their favourite European countries in order to acquire a second home, leaving behind Mediterranean countries like Spain and Italy, according to a recent report published by GreekCityTimes.

CEO and founder of Elxis – At Home in Greece, Giorgos Gavriilidis, said that international buyers’ demand for a second home in Greece looks to be stable. “Investor interest from countries, such as the Netherlands, Germany, and Belgium, remains strong, focusing on Crete and the Ionian islands,” he said, adding “we expect prices to advance by about 10% in 2022 despite the uncertain conditions.”