REAL ESTATE

Property all set for rebound

Property all set for rebound

This year the property market is set to recover all the ground lost in the last couple of years and return to the levels recorded in 2019, according to George Mountis, managing partner at Delfi Partners and Co.

“If the pandemic allows it, we expect to see more stability and recovery in 2022. the Greek property market has significant prospects for a steady rebound as there is considerable interest in various asset categories,” the head of the property consultancy told Kathimerini.

He notes that domestic buyers are again interested in owning their own home, “while we anticipate that, after the shock of the pandemic, investment in properties that can be used as short-term rentals will post a strong recovery, even involving non-professionals investors.”

“At the same time there is increasing interest in holiday homes and in the use of the Golden Visa program,” Mountis points out.

As far as prices are concerned, according to Delfi there will be an increase in the final price tags of newbuilds due to the increase in the cost of new construction materials. However, the degree of increase will depend on the duration of the inflation crisis, banks determination to lend more, as well as the course of the pandemic.