It is indicative that the financial year 2018-2019 ended with a volume of transactions showing a remarkable increase of 25%. More precisely, almost 60.000 real estate transfer operations have been documented by the registry of real estate transactions of Independent Authority for Public Revenue (IAPR) since February of 2017 up until the first months of 2020.
Eventually, it seems that those who have invested in this sector have made a wise decision since they have seen the real estate value index growing 5.7% per year approximately.
According to the managing partner of the “DKG Development” office in Athens, Mr. Konstantinos Petridis, Athens is a unique crossroad of economic, linguistic, cultural and socio-economic factors. Thus, compared with other Greek and European areas, Athens has an important advantage and remains one of the most lucrative real estate investment destination, along with Barcelona, Berlin, Lisbon, and Vienna.
According to the “DKG Development”, the uncertain landscape that was created by the expansion of coronavirus is expected to clear up. Nevertheless, in spite of the unstable situation, large institutional investors have managed to remain active in the market. At the same time, despite the fact that current yields remain high, they have to be revised by the end of 2020.
Subsequently, any changes that will occur in the near future in the framework of the global panic that swept the world in 2020 – which can hardly be called coincidental- directly depend on the psychological mood of investors.