Corfu attracting large companies looking to invest in Corfu
investors
17 Oct 2022
/ 22:34
CORFU. Increased interest also from foreign individuals for villas and plots of land - The areas they prefer and the amounts they pay.
The real estate market in Corfu is doing extremely well, as it attracts large companies, as well as foreign individuals, looking to buy land and villas.
This summer was not only a very good season for tourism in Corfu, but there was also an unprecedented demand in the real estate sector. Although there has always been interest from large companies to buy land offered for building, they were limited to just looking and not buying. This has now changed.
Important agreements have already been made, while others are about to be made for projects in preparation. "There is great interest from large companies for investments in Corfu. Offers have been made, advances have been given, but the procedures are slow. If all goes well, these agreements will be seen next year in Corfu. These are million-euro deals", the real estate agent Dionysis Paggalis told Enimerosi.
As he explained, the companies' interest is focused around plots of land and large areas of up to 300 stremma, with the aim of creating villas and hotels.
Foreign private individuals
There is also increased interest from British, French, Polish, German and Israeli people who are interested in acquiring their own personal "paradise on the island". They are not only looking for a place for their summer holidays, but also a place to settle permanently due to the increased cost of living in their country. "Many Israelis want to come here permanently. In fact, they are enrolling in schools. They see Corfu as a safe place because of the connection with Jews. Τhe cost of living in Greece is also cheaper than in their country," Mr. Paggalis explained.
The preferences
The British are mostly interested to find properties in the northeast side of the island, from Barbati to Ag. Spyridon, with sea view. The Germans are looking for isolated residences in the northern part of the island. The Jews are looking for something unique and beautiful from Central Corfu and upwards, while the French are interested exclusively in villas with sea view on the west side of the island, from Paleokastritsa to Paramonas.
"There were purchases and sales, as there was a lot of interest in real estate. What was noticed, however, was that there was a significant decrease in buyers who are paying up to €250,000 to buy either a plot of land or a stone house in a village. This gap was, however, filled by buyers spending from €500,000 - €6 million," said Mr. Paggalis.
This summer was not only a very good season for tourism in Corfu, but there was also an unprecedented demand in the real estate sector. Although there has always been interest from large companies to buy land offered for building, they were limited to just looking and not buying. This has now changed.
Important agreements have already been made, while others are about to be made for projects in preparation. "There is great interest from large companies for investments in Corfu. Offers have been made, advances have been given, but the procedures are slow. If all goes well, these agreements will be seen next year in Corfu. These are million-euro deals", the real estate agent Dionysis Paggalis told Enimerosi.
As he explained, the companies' interest is focused around plots of land and large areas of up to 300 stremma, with the aim of creating villas and hotels.
Foreign private individuals
There is also increased interest from British, French, Polish, German and Israeli people who are interested in acquiring their own personal "paradise on the island". They are not only looking for a place for their summer holidays, but also a place to settle permanently due to the increased cost of living in their country. "Many Israelis want to come here permanently. In fact, they are enrolling in schools. They see Corfu as a safe place because of the connection with Jews. Τhe cost of living in Greece is also cheaper than in their country," Mr. Paggalis explained.
The preferences
The British are mostly interested to find properties in the northeast side of the island, from Barbati to Ag. Spyridon, with sea view. The Germans are looking for isolated residences in the northern part of the island. The Jews are looking for something unique and beautiful from Central Corfu and upwards, while the French are interested exclusively in villas with sea view on the west side of the island, from Paleokastritsa to Paramonas.
"There were purchases and sales, as there was a lot of interest in real estate. What was noticed, however, was that there was a significant decrease in buyers who are paying up to €250,000 to buy either a plot of land or a stone house in a village. This gap was, however, filled by buyers spending from €500,000 - €6 million," said Mr. Paggalis.
