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.
PROPERTY
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.
The center of Athens is emerging as an ideal destination for securing high yields from the utilization of residential property.
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.
Acquiring a newly built home is turning into an elusive dream for the vast majority of Greeks.
Foreign investment in the Greek real estate market, especially housing, recorded an all-time high in 2022.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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