Greece: A Promising Property Market
PWC Survey 2021: Athens Leads Greek Property Market Momentum
The latest annual survey (published in 2021) by PwC and the Urban Land Institute on the European property market shows that the Greek capital will lead the ranks in future capital gains and rental hikes among 31 cities.
In the report, the Athens market gained the highest marks from both rental rates and capital value. The study surveyed property investment firm officials and foreign investment fund managers. The professionals highlighted the considerable prospects of the Athens market, and the fact that Greece has been successfully drawing much more interest from the international investment in the recent years.
In the same survey in 2020, Athens ranked 9th among 31 cities. In 2021, the Greek capital, Athens is followed by Copenhagen and three German cities: Berlin, Hamburg and Munich. Although compared other European cities, Athens has a relatively small number of foreign institutional investors, the optimism is attributed from the further recovery of tourism, the political stability and more investor-friendly environment.
Real estate experts remark that prices in Athens are at the start of a new upward cycle. Strong investment return is expected in the aftermath of Covid-19 and recession in previous decades.
Overall, most investors believe that Greek real estate market would continually strengthen and prices and rents still have much growth in the coming years.
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