Demand for new offices boosts prices

Rents are up to three times more expensive in modern and energy-efficient office buildings that have been built recently than older office stock. This explains their appeal among investors as well as real estate development companies.

Apartment rates keep soaring

Apartment prices in Greece grew by 12.2% in the fourth quarter of 2022 and at an average annual rate of 11.1% in 2022, the Bank of Greece said in a report on Wednesday.

Central Athens’ high yields

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

The energy upgrade challenge

The energy upgrade of properties represents a big challenge over the next four years, as the country will have to spend many billions of euros to meet target.

Americans head to Europe for the good life on the cheap

Ben Mitas sipped Vinho Verde from a stemmed wineglass while he watched his daughter play on a swing one afternoon in January. He had bought the wine from a quiosque, the ubiquitous park kiosks, a luxury of living in Lisbon.

Over 1,300 applications for Oikia

The Cypriot Ministry of Finance has announced that over 1,300 loan applications involving a total amount of 131.1 million euros have been submitted under the Oikia scheme, a loan management plan with government funds granted under Government Housing Plans.

A housing ‘armageddon’

All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive.

Rushing for Golden Visas

The asking prices for a large portion of apartments in the center of Athens are now set at rates similar to those of the northern suburbs, or even higher.

Cyprus’ top foreign realty purchasers

Russian nationals were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data by the Department of Lands and Surveys, the department’s Director Elikos Elia said during the opening of the 5th Property Show last Friday in Nicosia.

Property sales to speed up

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.

TAP certificate in five days

An Interior Ministry amendment aspires to put an end to delays in the issuance by local authorities of the real estate tax (TAP) clearance, recorded in most municipalities of the country.

Plot thickens over fate of Ideal and Astor cinemas

The future of the Ideal and Astor, two of the Greek capital’s historic movie theaters, looks uncertain amid speculation over the intentions of the owner of the buildings housing the cinemas, the Single Social Security Entity (EFKA).

Lamda signs agreement with TEMES on luxury Elliniko hotels

Lamda Development on Monday announced the signing of two strategic cooperation agreements with TEMES SA for the joint development of two state-of-the-art, luxury 5-star hotels and the corresponding branded residences on the coastal front of Elliniko.

Online tool for property sales

At last, the government and the tax authorities are trying to cut the red tape concerning property transactions, by immediately implementing a new digital system that notaries can use to obtain the necessary supporting documents, which currently exceed 17.