Athens Property Market Remains Strong. A survey on the prospects of the European property market in 2021 placed Athens in 9th position among 31 cities in Europe.<\/p>\n
The prospects of the Greek commercial property market remain strong, at least as far as the projected course of sale prices and rental rates is concerned.<\/p>\n
This upbeat outlook was provided by foreign and Greek institutional investors who participated in this year\u2019s survey on the prospects of the European property market for the coming year conducted by PwC for the Urban Land Institute.<\/p>\n
The survey placed Athens 9th among 31 cities in Europe based on the estimated course of prices and rent for investment properties (e.g. office buildings, logistics centers, etc.). This is regarded as an important development amid the pandemic, with institutional investors agreeing that the Athens realty market offers significant opportunities for future capital gains and rental revenues.<\/p>\n
\u201cThe Athens market did not have the time to emerge from its recent downward cycle formed during the financial crisis, so there still is significant scope for future capital gains, both on rental rates and on prices,\u201d Eri Mitsostergiou, ULI president for Greece and Cyprus and head of the European research department at Savills property consultants, told Kathimerini.<\/p>\n
\u201cSeveral European cities reported an increase in prices and a reduction in returns in previous years, which has not happened in Athens to the same degree as the rebound started later. Athens is also considered a safe investment choice for several institutional investors due to the shortage of quality properties. It is therefore estimated that existing good-quality buildings will maintain and possibly increase their value in the future, in contrast with properties of lower standards,\u201d she added.<\/p>\n
The dominant trend among investors concerns a swing towards safer choices of properties and markets due to the pandemic, adds Mitsostergiou. Notably, in last year\u2019s survey Athens topped the chart.<\/p>\n
The Greek capital\u2019s overall investment prospects for 2021 also remain positive, meanwhile, though there has been no improvement in its position on the corresponding chart, where it remained in 28th place, like last year. This is not due to any specific reason, but rather to the size and shortage of properties that prevent it from rising among its peers.<\/p>\n
Greece Property News: Athens Property Market Remains Strong<\/span><\/em><\/p>\n Source: ekathimerini.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Athens Property Market Remains Strong. A survey on the prospects of the European property market in 2021 placed Athens in 9th position among 31 cities in Europe. The prospects of the Greek commercial property market remain strong, at least as far as the projected course of sale prices and rental rates is concerned. This upbeat […]<\/p>\n","protected":false},"author":13,"featured_media":65022,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4167],"tags":[4168],"acf":{"page_title":null,"image":null,"page_text":null,"learn_more_about":null,"sidebar_image":null,"sidebar_url":null},"yoast_head":"\n