A Wave of Turkish Buyers Hits Greece’s Summer Villas
The Greek summer property market is experiencing a major shift — and Turkish buyers are at the forefront. As demand for second homes abroad continues to grow among Turkey’s wealthy, Greece has become one of their top destinations. From scenic villas to luxury waterfront estates, Turks are joining a wave of international investors changing the face of the Aegean.
A Foreign Takeover in Greece’s Holiday Home Market
According to recent research by Germany-based real estate network Engel & Völkers, foreign buyers now dominate the summer housing market in many parts of Greece. On several popular islands, Greek buyers are becoming the minority.
The demand for summer homes remains high, and prices are expected to keep climbing throughout the rest of 2025. The foreign interest is not just a trend — it’s reshaping local markets.
Engel & Völkers CEO Giorgos Petras says that although the nationalities of buyers vary by region, investors from Germany, Austria, Switzerland, the US, Lebanon, Israel, the Balkans, and Turkey are leading the pack.
Turks Turn to Real Estate Abroad
Data from Turkey’s Central Bank reveals just how active Turkish investors are overseas. In May 2025 alone, Turks spent $238 million on real estate abroad. In the first five months of the year, that total reached $1.03 billion.
Experts say Turkey’s wealthy buyers are mainly focused on two hotspots: the United Arab Emirates and Greece. The appeal lies not only in luxury and lifestyle but also in stability and investment potential.
What Kind of Homes Are They Buying?
Turkish and other international buyers are especially drawn to villas with pools and sea views, with properties offering direct access to the beach topping the wish list in the luxury segment.
Island by Island: Where Foreign Buyers Are Dominating
On some islands, foreign ownership is the new norm. Take Hydra and Spetses, for example — historic and cosmopolitan destinations where foreign buyers now make up 70% to 85% of the market. British, German, French, Belgian, American, and Israeli investors are particularly active here.
Mykonos, known for its glamour and sky-high prices, sees about 60% to 70% of its property purchases made by foreigners, with notable interest from Italy, Lebanon, and France.
On Paros, buyers from France, Switzerland, Germany, and Israel are driving demand, especially for villas under 170 square meters.
Santorini, famous for its iconic sunsets and caldera views, is almost entirely owned by non-Greeks when it comes to vacation homes — foreign investors account for 80% to 85% of the market, led by buyers from the US, UK, Germany, and Italy.
Rhodes also sees a strong international presence, with 60% to 65% of homes purchased by foreigners, especially from Germany, the UK, France, Belgium, Italy, and Israel.
Why Greece?
It’s not just the beauty of the islands that’s drawing investors — it’s also value and opportunity. Compared to other European coastal destinations, Greece still offers relatively competitive prices for high-end real estate. Add to that the close proximity to Turkey, cultural similarities, and EU residency options, and it’s easy to see why Turkish buyers are eager to get in. (nefes)
