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Israelis scouring Greek real estate market

Featured Israelis scouring Greek real estate market

Israelis are scouring the market of Thessaloniki for the rental of properties that will accommodate entire families, in the shadow of the war in Gaza.

In their effort, they have also activated the Jewish community of the northern Greek city, which is quick to help with whatever possibilities it has.

Many of them are willing to pay as much as they can to secure the property while not hesitating to sign leases even after two or three months.

High on the agenda are apartments available from short-term rental platforms like Airbnb, which are readily available.

Thessaloniki, due to its historical ties, is at the center, however strong demand also exists for Athens, with an emphasis on the Southern Suburbs but also areas outside the urban fabric.

It is indicative that a real estate agent last week closed a deal for two villas in the Saronida area for over six months, in the hope that by then a rudimentary calm will have been restored.

"After the flare-up in the Middle East, several Israelis rushed to seek safe haven in countries they consider friendly and not in danger of being the target of missile attacks", notes owners associaitonPASYDA president Andreas Chiou to OT.

Cyprus, due to its proximity, is in first place, followed by Greece. These are two countries in which Israeli citizens feel safe due to the closer relationship that is developing between them.

Turkey, on the other hand, with President Erdoğan lashing out against Netanyahu's tactics for escalating the war, is in a no-go zone.

In fact, some 24 hours ago Israel ordered its diplomats to leave Turkish territory.

High demand for Golden Visa as well

There is also great interest in buying a home through the "Golden Visa" program.

According to market information, real estate agencies in various cities of the country (apart from Athens and Thessaloniki, in Rhodes and Chania) receive forays from Israelis who want to buy real estate in Greece worth more than 250,000 euros, in order to have the right to permanent residence and free movement in Europe.

This is a stimulating injection into the Greek real estate market, which remains in the sights of international investors with anything newly built becoming unaffordable.

The Greek real estate market moves at reasonable prices and remains one of the cheapest markets in Europe in terms of price per sq.m. but also because of the stability that has been created in recent years.