Fragmented real estate market sees wide variations in demand

The Greek real estate market is currently quite fragmented, as 2017 signaled the recovery of certain categories, the stabilization of others and the continued decline of the rest of the market.

Estate agents note that had it not been for the difficulties associated with nonperforming loans and foreclosures, the recovery of the property market would have been speedier and more comprehensive, as the cash flow would have increased significantly via the issuing of new loans, which remain out of reach for most for now.

Babis Christodoulopoulos, the former head of the Hellenic Valuation Institute (ELIE), summarized the conclusions of ELIE's recent annual conferences in Thessaloniki, Iraklio and Athens, saying that price increases have been observed in cases of stores on traditionally popular streets, high-standard office spaces with energy efficiency certificates, desirable...