Americans interest in vacation rentals in Greece has skyrocketed in 2024, with the recent US elections acting as a catalyst for this momentum. Many Americans, frustrated by political developments, are looking for an outlet in other countries with Greece standing out as a preferred destination.
10-fold increase in US traffic
According to Elxis – At Home in Greece, a company specializing in vacation home sales, the number of US visitors to its website increased tenfold in the two weeks following the elections, compared to the same period in 2023. In addition, requests for home showings have increased significantly.
According to the company’s CEO, Mr. George Gavriilidis:
“Interest from the US was already high in 2024, but after the elections there was an explosive acceleration. One in eight of our customers (12.3%) comes from the United States, and we estimate that in 2025 the country will be in third place, after Germany and the Netherlands.”
Bigger budget buyers
American buyers are not only investing more often, but also with larger budgets. While the average sale price of vacation homes through Elxis was €378,500, buyers from the US spent an average of €514,000 on vacation homes in Greece.
Rapid rise in the “Golden Visa” program
American interest in real estate is also linked to the “Golden Visa” investment immigration program. Henley & Partners recorded a 400% increase in requests from Americans in the week following the election, while initial grants of residence permits for US citizens amounted to 369 in October 2024, an increase of 45.8% compared to the same month in 2023.
At the same time, there are still approximately 10,000 pending applications from 2023, suggesting that the increase in demand has not yet been fully reflected in the statistics.
Why Greece is attractive to Americans
Greece combines favorable climatic conditions, a high quality of life, and access to the Schengen zone through the Golden Visa. At the same time, the quality-price ratio for real estate in popular areas, such as the islands and the Peloponnese, remains competitive compared to other European countries.
2025 Outlook
With current trends showing continued growth in interest, Greece is well-positioned to attract even more American investors. The country’s projected rise in foreign buyer preferences will further boost the domestic real estate market and economy.
The explosion in demand from the United States for vacation rentals in Greece, combined with the growing appeal of the Golden Visa program, positions Greece as a top investment destination for 2024 and beyond. Strategically capitalizing on this opportunity can significantly boost Greece’s tourism and investment sectors.
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