Greek real estate moves into catch-up mode
By Dimitris Kontogiannis
THE GREEK REAL estate market is likely to remain buoyant in the medium term. It is expected to benefit from a rise in disposable income, low real interest rates, demographics and a change in household housing preferences, according to bankers and other business executives.
“We are very positive about the prospects of the Greek real estate market, especially the residential market,” says Michael Masourakis, head of economic research at Alpha Bank. “We think demand for housing is going to remain strong in the years ahead, with GDP projected to grow annually by 3.5% or more and real interest rates to remain low.”
Masourakis says the evolution of house prices will also be influenced...
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