Greece can lead the future of Mediterranean luxury housing, Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty, said in an interview with Naftemporiki and Michalis Psilos.
Savvaidis spoke about the new type of buyer who seeks quality of life, culture, authenticity – whom he calls the “Romantic Affluent” – and explained why luxury housing is a strategic asset for Greece.
“True luxury in housing is not based on volume, but on authenticity, architectural care and human connection,” he noted, stressing the need for medium- and long-term development plans that will highlight local heritage and place the country at the core of the new global luxury narrative.
How is the luxury housing market in Greece developing? What is the profile of the buyers?
“The Greek luxury housing market has now entered a phase of maturity. What we are observing is that demand is no longer limited to the “well-known” islands or holiday homes. Greece is emerging as a high-end settlement destination, with more and more buyers staying in the country for long periods of time, even all year round.
The profile of the buyer has changed. It is no longer the one who seeks publicity or show-off. It is the one who seeks quality of life, culture, authenticity. I call him the “Romantic Affluent” – a new category of buyers with emotional intelligence, culture and a need for a meaningful experience.
They are looking for homes that speak to the soul – homes that tell a story, respect the landscape, and they are connected both to memory and place.
A global trend that now concerns us directly is the development of branded residences – high-quality residences under the auspices of hotel or design brands. We are now seeing interest shifting from mass developments to smaller-scale projects with a distinct identity, where luxury meets consistency and attention to detail.”
What makes Greece unique compared to other Mediterranean countries?
“Greece offers something rare: a coastline longer than Italy, France and Spain combined. And yet, much of it remains undeveloped, authentic. This makes it unique. Buyers find a sense of rarity here – properties by the sea that are not copies of other places, but pieces of a living culture.
Moreover, Greece does not need to ‘invent’ luxury. It carries it in its everyday life – from the hospitality, the local architecture, to the way time flows more slowly. There is an effortless elegance, a natural balance between landscape, culture and life experience.
And within this uniqueness, there is also an obligation: to highlight but also protect the country’s residential heritage. Our villages, the mansions, the modern buildings of the 60s and 70s – all can be integrated into a new narrative of quality, sustainable life.”
Strategic advantages
But what are the strategic advantages of luxury housing for the Greek economy?
“Luxury housing is not just a real estate category – it is a strategic tool for the country. Each sale of luxury property brings in capital, tax revenues, investments in renovations, works of art, and local suppliers. In addition, buyers in this category have a high cultural and economic footprint – they invest, they create, they bring international contacts.
Greece can become the epicenter of Mediterranean luxury, not through mass, but through diligence. Here, value arises from rarity, architectural quality and emotion. This is a market that upgrades the country as a whole – its image, its international position, the local economy.
Investing in luxury real estate also has a developmental role. It contributes to the revitalization of local economies, the attraction of digital nomads and international personalities, and the strengthening of the country’s social capital. Greece is now becoming a place that attracts not only individuals of high economic standing, but also people who become authentic ambassadors of Greek culture and lifestyle to the world.”
