Market

Property market distortions

As it emerged from the constructive debate in Parliament on Friday, government incentives to attract foreign capital, such as the Golden Visa program, have ended up causing more distortions in the property market than benefiting the national economy.

The acuteness of the housing crisis, but also the traces of opacity, justify a complete revision of the current regime.

Restrictions and benefits

The development of a short-term rental property market must be regulated in ways similar to those implemented by other European megacities, but not in the name of a nostalgic approach to city life. 

Apart from the distortions it creates in the housing market by banishing residents from urban centers, it also ends up degrading the "product" itself.

EU sees June halt to energy aid

Brussels has signaled the end of the emergency measures to deal with the energy crisis, overturning the regime of the unilateral extension secured by the previous government regarding the ceiling on the wholesale market and subsidies on electricity bills until September.

REICs anticipate pressure on low-standard properties

Real estate investment companies expect pressure on the housing market for 2023, especially on properties of lower specifications, but also a continuation of the upward trend of green office buildings and logistics infrastructures.

The Bank of Greece, meanwhile, appears more optimistic, especially for luxury properties, in its annual report published a few days ago.

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