AmCham report: Property sector growth set to continue

Economic stability and ever-growing tourism are set to see the local real estate market maintain its growth in the next few months, while the main problem in the sector is the shortage of affordable housing, according to report on the Greek realty market by the American-Hellenic Chamber of Commerce released on Wednesday.

The report, titled "2024 Property Market Outlook for Greece," notes that in 2023, the Greek economy grew by 2%, driven by investment in construction and the Recovery and Resilience Plan (RRP). The Greek real estate market is recovering after a long period of recession. Greece has positive momentum, although a slower pace is forecast, from the first half of 2024.

It adds that affordable housing is a pressing social issue and government incentives may create a new sub-category of assets.

The report, prepared by the chamber's Real Estate &...