Exciting times lie ahead for the Greek real estate market, as economic stability and a thriving tourism industry are expected to fuel continued growth in the coming months. A recent report by the American-Hellenic Chamber of Commerce highlights the promising outlook for the property sector in Greece.
Titled “2024 Property Market Outlook for Greece,” the report indicates that the Greek economy experienced a 2% growth in 2023, supported by investments in construction and the Recovery and Resilience Plan. Despite a period of recession, the real estate market in Greece is now on the path to recovery.
One of the main challenges identified in the report is the shortage of affordable housing, which has become a pressing social issue. However, government incentives may pave the way for the development of new asset categories.
In the first half of 2024, the real estate market demonstrated strong performances in storage spaces, offices, and hotels. Moving forward, sectors such as hotels, offices, logistics, and holiday homes are anticipated to perform well, driven by economic stability and growing tourism.
Committee Chairman Lefteris Sikalidis emphasized the importance of providing thorough insights into the Greek real estate market to support decision-making for potential investors in the region.