By Alexia Sotiriou

Hotels are leading the rising demand for real estate, and not only in the popular areas of Greece, but also in other parts of the country that are less known abroad.

Investors’ interest in hotels has increased significantly lately, driven by the upward trend of tourism, which works favorably in this direction.

5.4% increase in five-star hotels in 2024

According to data from the Hellenic Chamber of Hotels, the total number of hotels in Greece has exceeded 10,000 since 2020, while in 2024 there was a 5.4% increase in five-star hotels compared to 2023 and a 2.8% increase in four-star hotels respectively.

“We believe that the increase in investment interest is related to the general economic stability, particularly in the post-COVID era, as macroeconomic indicators appear stable and attractive, creating a favorable economic environment. More and more companies are expressing interest in investing. In the hotel sector, ownership and operation are often separate, attracting interest from both investors and operators. This trend is on the rise, with an approximately 20% increase compared to 2023,” Lefteris Sikalidis, CEO of a real estate consulting firm and Chairman of the Real Estate & Development Committee of the American-Hellenic Chamber of Commerce, told ANA-MPA.

The areas that are on the “radar” of investors

According to Sikalidis, in addition to the well-known areas that attract interest (Crete, Santorini, Paros, etc.), less well-known areas abroad have also begun to become attractive. These include islands with distinctive features, the Peloponnese, and other mainly coastal parts of mainland Greece, including Northern Greece.

“However, we must emphasize that buyers make their choices very selectively and carefully, focusing on properties that they know will yield results. Four-star hotels are in greater demand, while there is also interest in resorts, city hotels and business hotels. City hotels are primarily sought after in Athens and Thessaloniki,” emphasized Sikalidis.