Greece has been dynamically placed on the radar of international tourism real estate giants, with dozens of projects already implemented and many more in progress, as noted in the discussion held within the framework of Prodexpo 2025, the leading conference for the real estate market in Greece and Southeastern Europe.
The creation of five new hotel units by 2026 was announced by Mr. Elie Milky, Chief Development Officer Greece, Cyprus, MENA, Radisson Hotel Group. As he mentioned, the new hotels will open in Athens (two of them), Peloponnese, Paros, and Evia. “The agreement for Evia was signed just yesterday,” he said. “This is a hotel unit with more than 300 beds. Euboea wasn’t even on our original list of destinations. This shows that there is great potential for development in Greece.”
As Mr. Milky noted, the Radisson group, which has developed 15 hotels and resorts in Greece from 2019 to the present, was initially unknown in the country. Gradually, it built relationships of trust and cooperation with investors and the market, and now it is planning to expand to more areas. As he emphasized, “Greece has enormous potential.” “Only 1% of hotels currently belong to international chains, the lowest percentage in the entire Mediterranean. If we reach 2%, this means that approximately 100 new hotels can be created. The timing is critical. The market is maturing, becoming more competitive and more demanding. Now is the time to strengthen our presence and bring new, quality projects to the entire country.”
Mr. Luciano Scarfone, Investment Director, Pygmalion Capital, also acknowledged the significant opportunities presented by the Greek market, stating: “After our success in Spain and Italy, Greece is the next step.” “The Greek market is fragmented in terms of ownership, and this is one of the most attractive features for us,” he noted. He went on to explain that Pygmalion’s strategy focuses on opportunities with ticket sizes ranging from 20 to 100 million euros, where the price and the possibility of utilizing CAPEX can create value for investors. Mr. Scarfone also mentioned the importance of the right brand. “The key to investments in Greece is strong demand from abroad and the fragmentation of ownership,” he emphasized.
The plans of Wyndham Hotels & Resorts to expand further into secondary residences were revealed by Mr. Vasilis Themelidis, Regional Director South & East Europe, Wyndham Hotels & Resorts, said: “We are looking at various destinations,” and continued that a project is being planned in the northern part of Greece, due to its proximity to the Balkans, which will essentially follow the successful example of Ramada Plaza by Wyndham Thraki in Alexandroupolis. “There is a high demand for Greece, as is the case with other mature destinations. What we are looking at is the international accessibility of destinations,” he said.
Mr. Themelidis also mentioned the company’s entry into the rental housing market, an area that, he noted, was previously associated with luxury but now has a demand for upgraded products from a broader audience. The first projects were implemented in Athens and Piraeus, followed by Chalkidiki. “We are bullish on this type of housing. Our goal is to bring our expertise and internationally recognized brand to this new market,” Mr. Themelidis noted.
The interest of foreign investors in Greece is growing, said Hilda Alyssandratou, Director of Investment Promotion, Enterprise Greece. “There is investment potential and the appetite of foreign investors for projects in Greece is increasing,” he said, adding that Greece’s unique characteristics, such as its history, heritage, and natural beauty, are combined with the improvement of macroeconomic indicators and the investment climate, which is attracting new investments.
As he explained, Enterprise Greece works closely with interested investors, helping them assess risk and understand the country’s regulatory and investment environment. The Fast Track investment program is an important tool, providing incentives for large projects with a significant impact on the Greek economy.
