There are two tendencies on the Greek real estate market. On the one hand, there is real estate property that attracts foreign investors and requires patience, since recently it has been put under a lot of pressure. On the other hand, there is real estate property located in premium areas, which has been repeatedly resold and continues to maintain a steady and precise return on capital.
The dynamic of this sector, however, is obvious and provides enough assurance for the future. Nowadays, real estate is one of the most rapidly developing industries. This has been clearly demonstrated by the changes that have been made to the foreign investments attraction policy in the specific field by previous as well as by the current Greek government. It is considered to be a vote of confidence for Greece.
The interest for the commercial side of the market has begun to flare up since the foreign funds alongside the Greek Real Estate Investment Companies have been making new investments. As a result, since 2019 the rise in prices has been documented, according to the National Bank of Greece.
The demand for foreign funds (Canadians – Americans – Russians – Israelis etc.) has activated the Greek market in recent years. If the economic and political situation in the country stabilizes, the Greek investors and consumers interest will also increase:
For high quality commercial real estate that guarantees secure tenants
For Real Estate Investment Companies with already existing commercial real estate portfolios
For the development of new tourism real estate objects or purchasing the already existing ones
For the development of new urban and residential projects