Are the Israelis, Lebanese, and Chinese coming to buy properties “for peanuts”?
Why do many Greek sellers believe that the offers they receive are low and not reflective of their property’s true value?
What is really happening in the market, and how do foreign investors actually make their decisions?
There is a widespread belief in Greece that foreign investors are “taking advantage” of the market and buying properties at rock-bottom prices.
However, this perception does not reflect market reality and is often rooted in psychological mechanisms that create resistance to the true valuation of a property.
Let’s take a closer look at how foreign investors think and why Greek sellers often react negatively to offers that actually reflect the real value of their property.
1. Why Sellers Say They Don’t Want to Sell “Too Cheap”
Almost every property seller in Greece says: “I’m not going to sell for peanuts.”
But what does this phrase really mean?
✔ In reality, it doesn’t mean the seller doesn’t want to sell—it means they’re struggling to accept the true market price.
✔ The phrase “selling too cheap” has no objective basis. For many sellers, any price below their personal expectations is considered “low,” even if it’s perfectly reasonable based on current market conditions.
✔ The resistance to accepting the true price is a psychological defense mechanism.
In other words, when someone says “I don’t want to sell too cheap,” they often mean, “I’m not ready to accept the reality of the market.”
1.1 Psychological Mechanism: Emotional Attachment to the Property
Most sellers don’t view their property as a commodity—they see it as a personal asset with emotional value.
This creates a serious obstacle to objectively pricing the property.
✔ The property is tied to memories, family history, and personal feelings.
✔ Time and money invested in the property make it feel like it’s worth more.
✔ The seller sees their property as “unique”—but the market doesn’t view it that way.
However, the value of a property is not determined by how emotionally significant it is to the owner—it is determined by supply and demand.
1.2 Logical Fallacy: Rejecting Market Value
The market determines a property’s value—not the seller.
Still, many sellers adopt the following logic:
✔ “My property is worth more because it’s special!”
✔ “Foreign buyers just want to get it at half price—so I’ll wait for a better offer.”
✔ “I won’t accept that the market price might be lower than what I expected.”
But if a property remains unsold for months or even years, it’s not because “there are no serious buyers”—it’s because the asking price is unrealistic.
Saying “I don’t want to sell too cheap” does not change the market reality.
2. Foreign Investors Don’t “Bargain”—They Invest Strategically
The biggest misconception is that foreign investors buy properties simply to “get them cheap.”
That’s not true! Serious investors don’t buy something just because it’s inexpensive—they buy it because it’s a good investment.
2.1 Investors Do Financial Analysis—Not Haggling
✔ They study market data.
✔ They evaluate whether the price justifies the investment.
✔ They calculate return on investment (ROI), not how “beautiful” the property is.
If a property is overpriced, they simply walk away—regardless of how attractive the seller thinks it is.
2.2 The Misconception About “Low” Prices
In reality, foreign investors buy at prices that are completely normal by market standards.
✔ Sellers say “they’re selling it off cheap”—but in fact, the price is reasonable from an investor’s perspective.
✔ What may feel like a “low price” to a Greek seller may actually be a fair and market-appropriate price to an investor.
The issue isn’t that foreigners are buying cheap—it’s that Greek sellers often have unrealistic expectations.
Conclusion: The Market Works with Data, Not Wishes
The phrase “I don’t want to sell too cheap” is often just a form of psychological resistance to the actual value of a property.
Foreign investors don’t buy at random—they follow financial strategies based on data and projections.
The real estate market is not driven by sellers’ emotions, but by supply and demand.
📞 If you want a professional, objective valuation and a sales strategy based on market reality, feel free to contact me today.