Real estate

Τhe foreign universities bring new agreements and prospects to the commercial real estate market

The National Property Registry, also known as the Cadastre, has taken over 30 years to be prepared. Now, the government says it is confident that the project will be completed by 2026. 

The outlook of the Greek real estate market remains positive, despite any new challenges arising, boosted by the performance of the economy, which recently regained investment grade, and political stability in the country.

The inexcusable hardship that citizens face at National Cadastre offices has its roots in the very beginning of the Greek state, in its inability to draw up a registry since then in the face of strong resistance, a weak central administration and general indifference. Now Greece is trying - in a few years - to impose order on 200 years of chaos.

The desire for a more detached life after the pandemic has led to an increase in the number of rural and field sales. As the remote working model became permanent in many sectors, demand has gradually increased.

Demand for rental houses is expected to pick up further in the next couple of months, stoking concerns that tensions between landlords and tenants will only intensify.

Property prices continue to rise, but there are already signs of a slowdown in growth. It is expected to be more pronounced in the second half of the year, since the more significant increase last year was also registered then.

The center of Athens is emerging as an ideal destination for securing high yields from the utilization of residential property.

The Electronic Real Estate File will be piloted in the next few days, leading to much quicker property transfers, while the online system will be fully operational from November 1.

Foreigners residing for a long time in the southern province of Antalya have started to work illegally as real estate agents to sell or rent properties with a 10 percent commission through social media groups amid the increasing demand of Ukrainians and Russians to reside in the city.