The novel coronavirus pandemic has broken the upward trend in Greece's real estate market, but realtors expect a comeback once the virus recedes.
After the initial shock and upheaval caused by the Covid-19 pandemic, demand is growing again and the trends are changing, according to market experts.
“At the moment, the Greek market is frozen, but we see big interest in houses with gardens,” Kosmas Theodoridis, vice president of Greece’s Federation of Realtors, told Xinhua.
“The pandemic fueled trends that already existed in certain demographic groups, like newlyweds or new parents, who want bigger homes, houses with gardens or in the countryside. Amidst the pandemic, this trend was strengthened and expanded to other demographic groups as well.”
After spending more time indoors due to lockdowns, people now seek more space for an office at home or a balcony and garden to entertain themselves in safety, he explained.
“In residential properties we are witnessing a shift from the city centers to the suburbs and holiday houses,” he said.