New York Times: The coronavirus launched the Greek Real Estate


“People are buying as if there is no tomorrow,” George Kasimis, head of sales at Aegean, Sotheby’s International, told the New York Times. The reason for the Greek real estate market that is flourishing, as the coronavirus pandemic pushed the citizens in search of safer investments.

In their extensive report, the New York Times points out that the Greek economy is recovering after a ten-year crisis. “All macroeconomic indicators are getting better and 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 newspaper.

Prices for apartments, according to Mr. Markopoulos range from 1,500 to 3,500 euros per square meter, depending on the neighborhood, with real estate in the center of Athens being in high demand, not only by domestic buyers, but also by investors around the world.

“People did not spend much during the lockdown and now they 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.

“We made four or five times more sales in 2020 compared to 2019 and this year is even better,” said Mr. Kasimis.

Leave A Reply

Your email address will not be published.