Property transactions slow

Property transfers were put on ice in 2020, mainly because of the pandemic. Data from the property transaction register show that interested buyers have postponed their investments as the economic outlook remains unknown, opting instead to hold on to their money until the prospects of the health crisis become clearer.

It is therefore particularly likely that, provided that the health crisis subsides, the real estate market will post even greater growth as of the second quarter of 2021 than in 2019. Demand is set to grow in Q2 especially, as is always the case before objective values are hiked.

Figures showed that transfers in Attica dropped by 35.2% last year from 2019, while state takings declined by 20%. Within the City of Athens, which normally records the highest number of transactions, the decline exceeded 40% as sales numbered just 3,171, against 5,303 in 2019.<...