Top of the Props: Greece leads European property rebound

Top of the Props: Greece leads European property rebound

  • Enquiries for Greek property at six-month high
  • Demand rebounds for Spain, Italy, France, Portugal
  • Spain most popular destination in the world
  • Greek demand up 70pc month-on-month in July

Greece is leading a rebound in European property demand. The country, which agreed new bailout terms with the European Commission, has seen enquiries surge.

Greece is now the 12th most popular property destination in the world, according to’s latest Top of the Props report. The country climbed four places in the rankings in July 2015, accounting for 1.28 per cent of all enquiries on the portal – up from 0.81 per cent in the previous month.

The country saw enquiries rise for the second month in a row, despite concerns surrounding its ongoing financial situation. In June 2015, worries over a possible Grexit saw overseas buyers lose interest in European favourites Portugal, France and Italy. Greece, though, remained popular, thanks to the euro’s favourable exchange rate, the country’s attractive house prices and its lifestyle appeal. In July 2015, that interest built momentum, with enquiries rising 70 per cent in real terms month-on-month to reach their highest monthly total since January 2015.

Greece’s growing popularity led a wider rebound in demand for European real estate, as investors overcame their caution surrounding the area’s economy. Spain remained the most popular destination in July, with its share of enquiries up from 6.68 per cent to 9.36 per cent. Italy climbed three places into sixth place, its share of enquiries expanding from 2.54 per cent to 3.14 per cent. France, after falling to a record low in the Top of the Props rankings, re-entered the Top 10, rising four places to seize seventh spot, with its share of enquiries increasing from 1.99 per cent to 3.06 per cent.

Portugal fell two places into eighth, its share of enquiries shrinking from 3.26 per cent to 3.02 per cent, but in real terms, the country saw its enquiries rise 3 per cent month-on-month. In real terms, Italy’s enquiries also rose 33 per cent, France’s climbed 67 per cent, while Spain’s jumped 51 per cent.

The return of buyers to Europe caused demand to fall for other destinations, including Australia (down three places into 13th), Cayman Islands (down nine places into 16th) and Thailand (down 10 into 14th). Other, more established destinations saw demand remain steady or increase. Brazil held onto fifth place, while Canada held onto third. They saw their share of enquiries climb from 3.42 per cent to 3.66 per cent and from 3.71 per cent to 5.35 per cent respectively.

Turkey and Cape Verde rose four places to fourth (3.99 per cent) and ninth (2.11 per cent) respectively. The USA also retained its second place, with enquiries up by 52 per cent in real terms. Director Dan Johnson comments: “The Greek bailout crisis has been both good and bad news for European real estate. Greece’s struggling economy means that, like many recovering from recession, local demand for property remains low, but the weak euro against the strong dollar and pound has also boosted demand from foreign investors looking to take advantage of bargains. In June 2015, financial uncertainty spread from Greece to other European destinations. With the resolution to Greece’s bailout crisis taking its first steps in the middle of July, though, the following weeks saw previously shaken confidence restored among investors, with demand rebounding for Spain, Italy, France and Portugal.

“Greece still has a very, very long way to go for its economy and housing market to return to normal. Enquiries for Greek real estate on were 17 per cent down in Q2 2015 compared to Q1 2015, but July marked the promising start of an upturn, with the highest number of enquiries received by Greece in six months.”

Click here to see the top 40 property destinations on in May 2015.

— ENDS —


Notes to Editors

About Lead Galaxy and

Founded in 1999, is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners. is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.


Do you need comment or statistics for an international real estate article? Our experienced editorial team and management are happy to collate data, provide example properties, or offer insightful comment to support your publication.

Please contact Ivan Radford on or +44 (0)207 952 7221


Sign up to our Daily International Property Newsletter:

– Daily updates on property market news headlines

– Quirky stories from around the world of property

– Hot properties being launched internationally

– Useful guides, surveys, research and trends

– Gossip, lists and other property chit chat

Sign up here:


Feature property listings in your publication!

Our technical team has developed a great new solution for content publishers that allows the addition of high impact advertising units, which can be configured to show property listings, relevant to a type of property, country, region or a specific location.

There are 2 types of implementation:

  • Standard Ad Units: These show in 120,600, 160×600, 300×150, 300×250, 300×500, 300×750 and 728×90 formats, with a varying number of listings showing in each version.
  • Dynamic Portfolio: This is a completely configurable panel, where you can choose the number of columns and rows, plus the size of the listings and dedicate a section of a page, or even a whole page to a set of properties.

Please contact Ivan Radford on or +44 (0)207 952 7221