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Real Estate Director Forecasts Increased Interest from U.S Buyers in Greece

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– Costa Navarino in Greece has become a popular destination for affluent property investors.– The development started in the 1980s and includes villas, apartments, and luxury hotels.– The project is divided into five phases, with prices ranging from €770,000 to €5.5 million.– The area has gained popularity among buyers, with many expressing interest through the website or after staying at one of the hotels.– The golden visa program in Greece, which offers residency for a real estate purchase, has not been a major incentive for buyers in Costa Navarino.– The pandemic has actually accelerated sales and increased the desire to purchase premium real estate.

As per the analysis by a recent article on Mansion Global, Costa Navarino in Greece has become a hidden gem for affluent property investors. While it may not have the glitz and glamour of popular Greek destinations like Santorini or Mykonos, Costa Navarino offers a unique charm and exclusivity that has attracted the attention of high-net-worth individuals.

Located in the lush coastal Messinia region of the southwest Peloponnese, Costa Navarino has undergone a transformation into a high-end hideaway over the years. It all started in the 1980s when shipping magnate Vassilis Constantakopoulos began acquiring land in the area and marketing it to fellow Greeks.

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In 2010, the Constantakopoulos family-led Greek developer Temes embarked on the Costa Navarino project. Spanning across 2,500 acres, the project includes a range of luxurious villas, apartments, and hotels, including renowned brands like W, Westin, and Mandarin Oriental. With prices starting at €770,000 (US$838,830) for apartments and ranging from €3.3 million to €5.5 million for villas, Costa Navarino offers a variety of options for discerning buyers.

Evgenios Dendrinos, Temes’s director of real estate, describes Costa Navarino as the development of a new destination through distinct, mixed-use resorts tailored to different audiences. The project has attracted multigenerational buyers who appreciate the allure of Greece and its growing appeal to foreign investors.

When asked about educating potential buyers about this part of Greece, Dendrinos explains that initially, they had to promote the area more. However, as time went on, more buyers became familiar with Costa Navarino, either through their website or by staying at one of their hotels and expressing interest in real estate.

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While Greece’s golden visa program, which offers residency for a real estate purchase of at least €500,000, has been a significant incentive for buyers in urban areas and countries like Portugal, it hasn’t been the primary motivator for Costa Navarino buyers. Dendrinos clarifies that although their project is eligible for the golden visa, it doesn’t specifically target buyers interested in this program.

Despite the challenges posed by the pandemic, Costa Navarino’s residential sales have actually been accelerated. The desire to purchase premium real estate worldwide has increased, and Costa Navarino has experienced its best year in terms of sales.

Hence, Costa Navarino in Greece has quietly become a favorite among affluent property investors. Its unique charm, exclusivity, and range of luxurious offerings have attracted buyers looking for an alternative to more popular Greek destinations. With its stunning location and top-notch amenities, Costa Navarino continues to be a sought-after destination for high-net-worth individuals seeking a slice of Greek paradise.

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