Tips for buying a house in the Peloponnese

Looking to buy a house in Peloponnese? Peloponnese is the third most popular location in Greece for international property buyers.

The Peloponnese is located at the southern end of the Balkan Peninsula and close to Athens. It is home to five of Greece’s 18 UNESCO World Heritage sites. It has 37 Blue Flag beaches, awarded for their ecological purity. Over 700,000 international tourists visited the area in 2018, so there are also opportunities for property rentals and tourism businesses. But where exactly should you look for property in the Peloponnese? Read all about buying a house in the Peloponnese in this article.

Where to buy a property in the Peloponnese?

Peloponnese is divided into five prefectures (regions): Argolis, Arcadia, Corinthia, Laconia and Messenia. For the purchase of prime real estate you can choose, for example, the village of Romanos in Messenia or the area of ​​Porto Heli in Argolis. The advantages of these areas are the beautiful nature, the well-developed infrastructure, orderly communities of villas and a wide selection of villas and plots.

An 800,000 euro villa in Porto Heli – click on the link to view the property.

A major hotspot for wealthy tourists in Messenia is the premium resort of Costa Navarino, known for its sandy beaches, luxurious hotel complexes, spa centers and one of the best Greek golf courses. The village of Romanos, where prime real estate is being developed, is located nearby. There are many tourist attractions in the area, including temples and ancient ruins, the Temple of Apollo Epicurius and the ancient city of Messini.

The city of Kalamata, famous for its namesake variety of olives grown in the area, is also located in Messinia. The city is home to the only airport in the south of the peninsula, with flights to Athens in just 40 minutes.

We definitely recommend the Corinth region to people who want to buy a house in the Peloponnese. The advantages of this area include the proximity to Athens International Airport, which is about an hour’s drive away, a well-developed tourist infrastructure and a wide selection of good offers for houses for sale.

The most popular Peloponnesian resort, Loutraki, is also located in the Corinth region. Just 80 km from Athens, it can be reached in an hour. Loutraki is famous for its healing mineral waters, which are both consumed and used for bathing. The resort also has one of the largest European casinos and a good nightlife, with many bars and nightclubs. So why not buy a house in Peloponnese?

Residential property prices in the Peloponnese

Before 2014, real estate prices in Greece, including the Peloponnese, fell rapidly. In 2015 and 2016, there was a period of consistently low prices. Currently, residential real estate is gradually being appreciated.

Property prices in the region have fallen by about a quarter in the past five years. However, thanks to the stabilization of the Greek economy, this has stopped and prices are gradually recovering. The main driver is the annual growth of tourists by 10-15%.

The measures taken by the Greek authorities have stimulated price growth in the Peloponnese and throughout Greece. These include a reduction in the tax on property purchases to 3.09% of the property price, from 8-10% previously. Also the introduction of a “golden visa” program, whereby foreigners who invest at least 250,000 euros in real estate are entitled to a residence permit in Greece.

Buying a house in the Peloponnese: House prices by location

Property prices in the Peloponnese vary depending on the location. In Loutraki and Xylokastro you can find new build properties for €1,500-2,000 per m², while resale properties range from €800-1,200 per m². So it is perfectly possible to buy a property in the Peloponnese, even a nice new build apartment, for just over €100,000. Property prices are higher in Porto Heli, Porto Hydra and Ermioni, ranging from €3,500-6,000 per m2. Click here for property for sale in the Peloponnese