In the last thirty days, more than 30 hotels and tourist accommodations in the prefecture of Halkidiki have posted an online “sale”.
Although Greek tourism is setting a record in terms of arrivalsbut also in terms of revenue with travel receipts showing an increase of 15.2% in the period January-September 2023, compared to the corresponding period of 2022 and reaching 17.9 billion euros, higher even than the year 2019 milestone, though dozens of tourist units, especially small and medium ones, come up for sale almost every month.
The tourist season in Halkidiki, in particular, may have started with difficulties due to the adverse weather conditions, but it went well for the majority of tourism professionals, with estimates stating that hotels and tourist accommodations recorded better performances.
Nevertheless, according to available data, in November, 31 properties are available for sale through real estate classifieds websites, with the majority located in popular areas of Halkidiki. It is worth mentioning that at the start of the summer season, i.e. between May and November, a total of 110 units were posted for sale. They are mainly tourist units of a smaller category, which all these years operated on a family basis, being a key pillar of small and medium entrepreneurship.
The sale prices
Regarding the requested sale price, the highest reaches 4.5 million euros, in the Chaniotis area, where a hotel in full operation, with an area of 4000 sq.m., is being sold. and built in 1995. On the contrary, the lowest selling price of 200,000 euros concerns a tourist accommodation in Polygyros, Halkidiki, with an area of 800 sq.m.
Some more cases of hotels being sold in popular tourist areas of the prefecture are as follows:
- Three-star hotel in Kassandra, 1300 sq.m. at the price of 2.7 million euros.
- Hotel in Polychrono, area 521.76 sq.m. and year of construction 2000 at 1.5 million euros.
- Hotel with a total area of 240 sq.m. on a plot of 2,400 sq.m., three floors and year of construction 2000 with a sale price of 1.1 million euros.
- 4-storey hotel unit, 420 sq.m. in Ierissos with year of renovation in 2006 at the price of 600,000 euros.
According to market insiders, the availability of hotel units and especially small family units for sale will increase further in the coming period as the country’s “heavy” industry changes hands.
Important factors, however, such as the financial outstandings of each entrepreneur, successive crises, loans, other chronic arrangements, energy costs which, in relation to inflation and the revaluation of goods in the supply chain, shrink incomes and increase expenses.
Sales through auctions
At the same time, out of the 31 units, “under the hammer” two rental room businesses are expected to come out in Polygyros, Halkidiki. In particular, based on the available data, the first case concerns a space consisting of a shop with an area of 48 sq.m. with a basement and a building of tourist furnished houses with an area of 162 sq.m. The starting price is 251,000 euros while the auction is expected to take place in the new year, in May 2024.
In the second case, these are rooms for rent with an area of 400 sq.m. to the Brigadier General. The building consists of four different levels, two first floor levels with a total area of 200 square meters and two ground floor levels with a total area of 200 square meters. The two floor levels consist of five independent and self-contained apartments, while the two ground levels consist of seven independent and self-contained apartments. The starting price reaches 209,950 euros, while the date of the auction is expected.
It is also noted that 503 hotels in Halkidiki, with 24,729 rooms and 50,685 beds, were registered in the register of the Hellenic Chamber of Hotels (XEE) until the end of 2022. However, it is possible that some of the 31 accommodations that posted an online store are not members of XEE. The majority of units, according to the registry, belong to the small and medium categories, such as 1,2,3 stars. In more detail, XEE owns 159 one-star hotels, 138 two-star hotels, 100 three-star hotels, 66 four-star hotels and 40 five-star hotels.
It is recalled that based on the recent report of Danos – BNP Paribas Real Estate, in the first half of 2023, 5 additional five-star hotel units entered the tourist market of Halkidiki, offering 1,136 rooms and 2,610 beds.
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