More and more prospective buyers from the U.S. and Canada are looking to live out their “dream” in Greece by purchasing a vacation home. According to data compiled by Elxis – At Home in Greece, the first half of this year saw a 50% increase in demand from these two specific markets, shaping an entirely new trend in the vacation home market.
“Until recently, the main source of buyers for vacation homes in Greece was countries in Central and Northern Europe, such as Germany, France, the Netherlands, Belgium, and Switzerland. However, this year’s sharp increase in interest and transactions from the United States signals a significant development and expansion of the countries to which the Greek market now extends,” said Mr. George Gavriilidis, CEO of Elxis.
In fact, according to the company’s data, it is particularly noteworthy that 30% of these buyers (approximately 3 out of 10) are of Greek origin—that is, second- or even third-generation Greek Americans. According to Mr. Gavriilidis, “this finding shows that the shift toward Greece is not merely an investment decision, but also represents a return to their roots, allowing them to reconnect with the country from which they trace their ancestry.”
What kind of homes are they buying?
Seven out of ten (70%) buyers from the U.S. and Canada choose to purchase newly built vacation homes, either sold off-plan or already under construction. The remaining 30% prefer existing homes. The average expenditure per buyer stands at €448,000, while it is also interesting to note that only 11% have taken advantage of the option offered by the “Golden Visa” residency permit program “Golden Visa” program, confirming its low demand among foreign buyers.
As for the regions chosen by American buyers, Crete continues to lead in terms of investment interest, while the Ionian Islands follow, also recording high demand.
Elxis had already identified the trend of increased demand from the U.S. as early as 2024. “Interest from U.S. buyers was already much higher in 2024 compared to 2023, with the trend accelerating sharply after the presidential election,” notes Mr. Gavriilidis. According to companies that track trends in the investment migration sector, in recent years there has been a significant trend of U.S. citizens leaving the country in search of a different quality of life in other parts of the world, with Southern Europe—and, it appears, Greece—emerging as some of the most important destinations.
Direct flights are boosting demand
Another reason for this trend is the increased ease of travel resulting from the rise in direct flights between the U.S. and Greece. Currently, U.S. citizens can fly directly to Athens from cities such as Dallas (added just last month), Philadelphia, Chicago, New York/JFK, and Charlotte. According to data from American Airlines, passenger traffic from the U.S. to Greece has increased by 28% compared to 2024 and is more than double the pre-pandemic level.
These figures are also confirmed by the data from “Eleftherios Venizelos” Airport, with the U.S. ranking as the airport’s top source market for international visitors, recording 1.18 million passengers in 2025—a 12% increase compared to 2024. During the first four months of this year, a further 10% increase was observed. This growth is now translating into increased demand for the vacation home market in Greece.