Fireside chat at Prodexpo 2024

“The Greek real estate investment market is at a pivotal moment, where a big opportunity presents to turn Greece from an up-and-coming European real estate investment market into a must-invest one. As European markets continue their declining trajectory, investors are increasingly targeting the Greek market, which is in a counter-cyclical phase, as is evident by the latest investments by organizations such as HIP/Blackstone, HIG Capital, GIC, and numerous others”, Errikos Arones, Hellenic Properties CEO, mentioned during a fireside chat with journalist Jannis Foskolos on the opening day of this year’s Prodexpo conference.

“As prices climb, substantial product destined for development is coming on the market to fill the increasing demand for newbuilt product with leases and sales taking place off-plan, while banks are eager to finance mature projects with attractive terms. The sector has demonstrated a five-year track record of successful investments and exits, and we must now build on that momentum and increase”, he added. “However, key challenges persist. The primary concern is maintaining stability in the legal and urban planning framework, as inconsistency can easily damage investor confidence. Construction costs and affordability issues are also significant, with some market segments surpassing previous peaks to set new records. To attract major institutional investors, Greece must focus on building stability, evolving tax incentives, and investing in infrastructure to support sustainable growth”, Errikos Arones noted.