The number of adds on popular real estate websites selling hotels has increased in the final trimester of the year.
According to a survey carried out by Travel.gr between October and December 2021, at least 483 adds selling hotels all over Greece were published. The greatest increase during the trimester was noticed in December. Also, in the past trimester adds were published for areas where there isn’t usually availability in hotels for sale.
The hardships that the tourist sector has been facing, mainly in terms of cash flow but also in terms of accumulated financial commitments, may increase the number of hotels for sale even further in the next few months, something that will reveal the impact on the market. The situation is further affected by the spread of the recent Covid-19 Omicron variant.
The prices of the hotels for sale depend on their location, age, and size, as well as on the stars they have.
For example, a 3,500 m² hotel in the historic centre of Athens, with 5 floors and 105 rooms, built in 1998, is sold for 25 million euros. At the same time, a 3,100 m² hotel in the centre of Athens, with 6 floors and 114 rooms is going for 7.5 million euro. A 3,050 m² hotel in Neos Kosmos, away from the city centre, with 86 rooms is priced at 5,5 million euro.
What’s impressive is the fact that there are hotels for sale in Athens in areas where hotels have never before been for sale, like for example Ampelokipi, Neos Kosmos and Kolonos. This shows the great pressure the tourist sector in urban centres has been under, as a result of the pandemic. On the other hand, there’s an increase in hotels for sale in Halkidiki, with the majority of the 108 adds being published in October. The prices for the hotels in Halkidiki range from 137,000 euro to 36 million euro.
A considerable increase of adds selling hotels has been noted also in Santorini, in Heraklion, Crete, in Pieria and also in the Peloponnese, mainly in the areas of Korinthia and Achaia. A price reduction for hotels in the Cyclades, like for example in Paros, where a 3,200 m² hotel whose asking price was 4.3 million, has decreased in December by 800.000 euro.
Some of the more rare cases that usually do not appear on lists with hotels for sale are Koufonisia, Samos, Kastoria, Ioannina, Florina and Arachova. In fact, in Arachova, one of the most popular winter destinations in the country, that has been hugely impacted in the past two years due to the pandemic, a newly built 650 m² traditional hotel on 2,800 m² grounds, is sold for 850,000 euro.
More specifically, in Athens (centre, Omonia, Exarcheia, Neos Kosmos, Ampelokipi, Kanigos square, Metaxourgeio, Patission Avenue and Kolonos) there were 31 adds. Additionally, there were 7 adds for the southern suburbs, 4 for the eastern suburbs, 2 for the western suburbs and 1 for northern suburbs. There were 4 adds in Piraeus, and 9 on the islands of the Argosaronic gulf, 6 of which were in Spetses.
In Thessaloniki (centre, Oreokastro, Hortiatis and Perea) there were 7 adds, and 108 in Halkidiki, 36 of which in Kassandra, 35 in Pallini, 26 in Sithonia and the rest in Poligiros, Moudania, Anthemounta, Kalikratia, Olimpiada, Stageira-Akanthos.
In the Dodecanese, there were 15 adds, 3 of which were on Rhodes, 3 in Kos, 3 in Karpathos, 4 in Astipalea and 1 in Patmos and Kalymnos.
In the Cyclades there were 46 adds, 24 of which in Santorini, 6 in Paros, 2 in Antiparos, 4 in Mykonos, 3 in Andros, 2 in Milos and 1 on each in Naxos, Syros, Tinos, Koufonisia and Ios.
In Crete there were 45 adds, 28 of which in Heraklion, 8 in Lasithi, 8 in Chania, and 1 in Rethymno.
There were 46 adds for the Ionian islands, 24 of which in Kerkyra, 10 in Kefalonia, 5 in Zakynthos, and 7 in Lefkada.
In Evia (Eretria, Chalkida, Kirea, Karistos, Stira, Amarinthos and Limni) there were 17 adds, 11 in Magnisia, most of which on mount Pelion (Milies, Portaria and Zagora).
There were 54 adds in the Peloponnese, 16 of which were in Achaia, 12 in Korithia, 9 in the Argolis area, 6 in Ilia, 4 in Arcadia and 3 in Messinia, while in Pieria (Katerini, Eastern Olympus and Kallithea) there were 20 adds.
Finally, there were 7 adds in Florina, 6 in Preveza, 5 both in Samos and Thassos, 4 in Larisa, Fthiotida and Kavala, 3 in Viotia as well as in Arta, 2 in Chios, Drama, Samothrace, and Evros, and 1 add for each in Evritania, Skiathos, Pella, Kozani, Ioannina, Kastoria and Lesvos.
