An Outlook Of The Greek Real Estate Market In 2022Especially in the capital due to the fact that traditionally welcomes and hosts huge number of visitors and during corona times did the same thing about one...
Let's have a glance at how 2021 left us:
Properties’ price levels
Especially in the capital due to the fact that traditionally welcomes and hosts huge number of visitors and during corona times did the same thing about one new species of visitors (the so called “digital nomads”, people who started working remotely and decided to move to other countries) the demand at the housing sector (short or long term) was unexpectedly increased and had as a consequence the increase of the prices of properties in Athens (8,3%0 and in the whole country as well (4,2%). In the outlook of 2022 Athens is expected to have the first place among 31 other European cities where significant change in rents and capital values will take place.
Construction activity on fire
2021 ended up with “explosion” at the construction activity, especially in places where the demand for housing was really high.
High investment interest
Also, when 2022 showed up found a really good and fertile investment soil if you consider that 2021 closed with 852,4 million euros from foreign direct investments.
Growth at the commercial real estate market
Of course given that 2022 upon its arrival found huge growth and demand at the housing sector it was predictable that situation would be the same at the commercial real estate market. Many international companies appeared in Athens and constructed their branches. Many business spaces were developed and investments in the hotels’ sector reached unexpectedly high rates.
Regarding the outlook of the greek real estate market in 2022 we can only say that during the past year the aforementioned factors succeeded to create a really strong supply chain consisted also of links such as: the investment increase, the effort to minimize bureaucracy and the always successful touristic sector. Expectations for the greek real estate market in 2022 seem to be really ambitious considering that ULI and PWC list Athens in 23rd spot among other European capitals with regard to the overall outlook of the real estate market.
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