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The Greek Real Estate Market Is Still Attractive for Foreign Investors

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Foreign investors are waiting for the development of the Greek real estate market, but have not lost interest in it.

Foreign institutional investors are waiting for the development of the Greek real estate market, but have not lost interest in it. As market professionals stated at the seventh economic forum in Delphi, events in the geopolitical sphere will affect the situation, but it is not yet known what this impact will be.

According to Georgios Elekidis, director at Bain Capital Credit, the pandemic has not prevented the growth of the Greek real estate market. "The question now is how this geopolitical crisis will affect real estate, which is the biggest problem at the moment," he said.

An Executive General Manager and an Executive Committee member of Piraeus Bank, and Head of Real Estate, George Kormas, noted that "inflation leads to an increase in the cost of construction, but real estate is also a haven for investors even in wartime." He added that consumer demand will decrease as people's disposable income will decrease. The Ukrainian crisis will lead to some reduction in prices, and in some cases will prevent the formation of a "bubble".

The CEO of Q Real Estate Services George Mantzavinatos comments: "We are facing a wait-and-see attitude of investors due to a special military operation, but customer interest remains alive. I think as soon as a truce is reached, everything will change." He believes that Greek real estate continues to bring significant profits to foreign investors and that in the next few years the supply on the local market will increase significantly.

Mortgage. Banks will play a key role in the future of the real estate market. In 2021, the volume of new loans issued for the purchase of housing amounted to €900 million, compared with €3 billion in 2008, when the market reached its peak.

Ioannis Ganos, Director of Real Estate Management and Investment at Alpha Bank, states that "we are definitely on a growth path that has not been affected by the coronavirus, and we do not believe that it will be affected by the energy crisis." He points out that banks are now stable enough to issue new loans.

Investment opportunities in Greece:
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Commercial property for 4 250 000 euro on Dodecanese, Greece
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We offer for sale a residential complex consisting of seven 2-storey houses of 122 sq.m each. On the ground floor of each property is a living room of 23.33 sq.m, dining room of 15.97 sq.m, bathroom of 4.04 sq.m, and two large bedrooms of 16.12sq.m each, two smaller bedrooms of 13.09h and a bathroom with bathtub of 6.64 sq.m. Each property has...
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Commercial property for 945 000 euro in Athens, Greece
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There is provided for sale a commercial piece of real estate that is located on the central road in the Municipality of Agia Paraskevi in Athens on the second floor with total floor area 580 sq.m. Also it is for sale other unit on the third floor with the price 945.000 euro.
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Hotel for 5 500 000 euro on Dodecanese, Greece
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For sale a hotel of 3.600 sq.m built on a plot of 6.000 sq.m. in the resort village of Pefki. The hotel accommodates 83 doublerooms, triple rooms of 20 sq.m and 7 Studios of 40 sq.m. All rooms are fully furnished,equipped, feature air conditioning, telephone, kitchen, and a mini bar. The complex has a large swimming pool, children's pool,...
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Commercial property for 15 000 000 euro in Athens, Greece
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For sale business of 7700rs in Athens. A view of the mountain opens up from the windows. The owners will be leaving the furniture with the sale. Building has a lift. Extras included with the property: parking space, garage. There is provided for sale a property that is intended for commercial use, and is located inVotanikos, one of the central...
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Commercial property for 1 350 000 euro in Athens, Greece
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There is provided for sale a 3storey building that is located in Glyfada, the southern business district of the capital. Glyfada is one of the most modern and well-equipped southern suburbs of Athens. Its area is 15 kilometers from the Greek capital Athens and stretches from the foot of the mountains to the coast Gimetus Saronic Gulf. For years,...
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We offer for sale a four-storied commercial building of 850 square meters on a plot of 1300 sq m. On the ground floor there is a large parking area of 250 sq.m. On the ground floor area of 420 square meters. On the second floor an area of 300 sq.m. On the third floor an area of 200 sq.m. This building can be equipped for a large shopping center....
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Commercial property for 750 000 euro on North Aegean islands, Greece
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A commercial building with an area of 740 sq.m, in a land plot of 4000 sq.m., for sale, is located near the airport of Thessaloniki. There is a two-level building of240 sq.m, built in 2002 and a warehouse of 500 sq.m. The building has alarm system and heating.
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Commercial property for 800 000 euro on North Aegean islands, Greece
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Source: Ekathimerini

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