REAL ESTATE

Inflexible sellers hurt property market transactions

inflexible-sellers-hurt-property-market-transactions

The volume of property transactions in the residential market could have been considerably higher over the 18 months of the pandemic were it not for the inflexible attitude of most sellers, according to an analysis by Cerved Property Services, one of the biggest property service and management companies in Greece.

It showed that transactions fell 49.5% year-on-year in Athens last year. Part of this decline is attributed to the absence of foreign investors that had fueled the rise in the local market before the outbreak of the pandemic.

In 2020 there was a 73% drop in revenues from the Golden Visa program.