Stores, offices and other small properties in Chalkidiki, northern Greece are being converted into residences, in response to the high demand for holiday homes at low and affordable prices.

According to the president of the Chalkidiki Real Estate Agents Association Grigoris Stivachataris, there is a lot of interest in smaller holiday homes (approximately 25 sqm) with sale prices ranging from 15,000 to 50,000 euros.

"The buyers are mostly from Bulgaria, Romania, Serbia, FYROM, Russia and Cyprus. They ask for small houses that are cheap," Stivachtaris told the Athens Macedonian News Agency radio 'Praktoreio 104.9FM'.

"We are at time when buyers control the market and opportunities are created for all," he added.

The buyers' interest is mostly focused on the area of Kassandra, however there is interest in small apartments in other areas as well, such as Peraia.

Additionally, there is another category of buyers who are interested in expensive and luxury properties. Of these, roughly 10-20 percent are Bulgarian or Russian and 20 to 30 percent are Greek, he said.