Investigating factors affecting holiday home purchases in Greece

Abstract

PurposeThe decision to buy a holiday home depends on a number of social, cultural, economic and demographic factors. These factors are related to home and environmental characteristics as well as demographic characteristics of buyers. The aim of this paper is to investigate the factors that shape the decision to purchase a holiday home in Greece.Design/methodology/approachThis paper presents the results of a survey, involving a representative sample of potential buyers of holiday homes in Greece.FindingsAccording to the research results, buying a holiday home in Greece is mainly an investment decision for the future and is determined by the value and characteristics of the house, the hidden costs and the factors that shape the external economic environment. (1) Further, the analysis has shown that there is a limited use of electronic channels in the real estate market in Greece with further potential of development.Originality/valueThe investigation focuses on the characteristics of the house, the variables of the external environment, (2) considering any obstacles or catalysts, such as the use of electronic channels. Even though similar studies have been conducted worldwide on the topic, very few have been carried out in Greece which lately has gone through major market changes.