Hotels are leading the rising demand for real estate, and not only in the popular areas of Greece, but also in other parts of the country that are less known abroad.
Investors’ interest in hotels has increased significantly lately, driven by the upward trend of tourism, which works favorably in this direction.
5.4% increase in five-star hotels in 2024
According to data from the Hellenic Chamber of Hotels, the total number of hotels in Greece has exceeded 10,000 since 2020, while in 2024 there was a 5.4% increase in 5-star hotels compared to 2023 and a 2.8% increase in 4-star hotels respectively.
“We believe that the increase in investment interest is related to the general economic stability that exists and especially after Covid, the macroeconomic figures of the economy seem stable and attractive, creating a favorable economic environment. More and more companies are expressing interest in investing. In hotels, after all, most of the time the owner is someone else and someone else operates it. Therefore, there is interest from both investors and operators, and this shows an increasing trend. There is an increase of around 20% compared to 2023,” Lefteris Sikalidis, CEO of a real estate consulting firm and Chairman of the Real Estate & Development Committee of the American-Hellenic Chamber of Commerce, said to ANA-MPA.
The areas that are on the “radar” of investors
According to Sikalidis, in addition to the well-known areas that attract interest (Crete, Santorini, Paros, etc.), less well-known areas abroad have also begun to become attractive, such as islands with special characteristics, the Peloponnese and other parts of mainland Greece, mainly coastal, and this also concerns Northern Greece.
“However, we must emphasize that the choice for the purchase is made very selectively and carefully, as they buy properties that they know will bring them results. 4-star hotels are in greater demand, while there is also interest in resorts, city hotels and business hotels. City hotels mainly concern Athens and Thessaloniki,” emphasized Sikalidis.
