NY Times for real estate in Greece: The pandemic changed everything

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There is great interest in Greek real estate, it is pointed out in an extensive report of the New York Times about the real estate market in the country, with the experts estimating that the coronavirus pandemic pushed the citizens in search of safer investments.

It is noted that the economy in Greece is recovering after a ten-year crisis.

“All macroeconomic indicators are getting better,” Antonis Markopoulos, co-founder and CEO of Prosperty, a start-up company that uses a digital platform to make transactions faster and more transparent, told the New York Times.

In his analysis of why this increase in real estate sales is observed, he said that people did not spend much during the lockdown.

“People are looking to put their money into a safe investment, such as real estate,” he says.

“There is a huge demand for short-term leases, so the returns that investors can make are extremely high,” he added.

As he explained, depending on the neighborhood, the apartments are sold from 1,500 to 3,500 euros per square meter. The apartments in the center of Athens are in great demand, not only from domestic buyers, but also from investors around the world.

“We made four or five times more sales in 2020 compared to 2019 and this year is even better,” said in the same report George Kasimis, head of sales in the Aegean of Sotheby’s International Realty.

“People are buying as if there is no tomorrow,” he said, adding that for Sotheby’s International Realty, 2021 proves to be the best year since 2016, when it started operating in Greece.

Source: New York Times

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