ECONOMY

Tough year ahead for real estate sector

tough-year-ahead-for-real-estate-sector

The property market will have fewer openings for growth this year, according to sector professionals, as certain categories that had expanded rapidly in early 2020, such as tourism assets, will remain under pressure in 2021.

According to Solum Property Solutions scientific consultant Babis Charalampopoulos, other sectors that are in for a difficult year are the stores market, the older office buildings and countryside residences in less popular tourism destinations.

The overall residential market is about to experience a tough period, with some houses enjoying some decent demand and others seeing prices slide.