The Greek Real Estate Market in September

grecia vector 1

September is a month of reorganization and setting new goals, and it is the same for the Greek government which announces its goals every year in September at the Thessaloniki International Fair. According to the PM’s speech, the growth of the Greek economy will reach 4.2%. The number was later in September revised to 5.9% and, according to analysts, could even reach 6.1%. The growth also reflects to the Real Estate Market with the commercial and residential properties holding on to higher prices than ever in the last decade, and with a dynamic that does not seem to lose its pace.

Not many transactions were announced in September, but according to what was published in the media, commercial, office and residential buildings were mostly the properties that changed hands.

More specifically, in September:

Residential:

According to the BoG data, the prices of the residential properties in Greece have risen even more, especially in specific regions, such as Attica, Thessaloniki, and in general the urban regions. The residential properties, according to the data are 4.7% more expensive than they were at the first semester of 2020. In Athens, Premia Properties acquired an independent property of serviced apartments located in Piraeus (Agios Dionysios area), and the transaction will amount to €10.2 m.

Office buildings:

Quality offices are still a unicorn at the Greek market, even though many transactions have been reported lately and there have been announcements for the construction of new buildings, that follow are build following energy sufficiency and “green policy” guidelines. In September the transation publicly announced was the sale by Trastor REIC of an office floor in Athens.

B-Exclusives

Latest news