Greece’s real estate market is expected to see growth in the second half of 2024, driven by economic stability, a robust tourism sector, and rising investments. Key sectors like hotels and storage facilities show strong potential. According to a study by the Hellenic-American Chamber of Commerce, these factors will shape the real estate landscape in the coming months.
What Will Drive the Growth of Greece’s Real Estate Market?
The real estate market in Greece is expected to experience growth in the second half of 2024, with three key factors playing a central role: economic stability, high-quality tourism, and investment improvements. According to recent trends, certain sectors like storage facilities, office spaces, and hotels have demonstrated the best performance so far this year.
Which Sectors Show the Most Potential for Growth in 2024?
According to Lefteris Sikalidis, the Chairman of the Committee, the goal of this study is to provide a comprehensive analysis of the trends and investment opportunities in Greece, assisting stakeholders in making informed decisions.
Storage facilities rank highest in terms of quality and the volume of new constructions. Offices come second, and hotels are third, especially due to their potential for quality improvement. As for price growth, secondary homes and hotels are expected to see the most significant increases.
What Are the Strengths of Greece’s Real Estate Market?
The study highlights several strengths for the second half of 2024. A thriving tourism sector, coupled with international interest, plays a crucial role in driving real estate demand. Additionally, the potential reduction in interest rates, combined with strong property demand, creates a favorable environment for growth. Active management of public real estate assets and the development of specialized, high-quality real estate products also contribute to the market’s strengths.
