News on real estate & the economy

With Greece currently on a steady track to economic recovery, now is a good time to aim your next investment plans at the Mediterranean country. To help you decide which investment best suits you, we’ve listed the pros and cons of investing in real estate and foreign exchange (forex) in Greece below.


Real Estate in Greece

Ekathimerini reports that foreign investment in Greek real estate is on the rise, showing how real esta...

Real estate investment company (REIC) Briq Properties said that its 50 million euro rights issue will considerably boost the company's free-float market capitalization, making the share more attractive to investors.

REICs that are listed on the Athens bourse have low free float levels, harming the shares' liquidity levels and increasing the risk of investors being trapped in an investment that is heavily controlled by basic sh...

National Bank of Greece (NBG), the country's second biggest lender, has sold its Cyprus subsidiary as part of plans to sell off international operations and improve its capital position.

​NBG said that it has signed a definitive agreement with AstroBank Limited for the sale of its 100 percent stake in its Cypriot subdsidiary for an undisclosed amount. 

"The transaction is expected to have a positive impact on NBG’s CET1 rat...

Airbnb-type platforms that refuse to share information about their clients with the Greek tax office on properties listed in the country could face fines of up to 100,000 euros, as part of a crackdown by the government on the sector.

A bill tabled in parliament said that platforms relating to short term property rentals in Greece must share their data with the Greek government, if requested, otherwise be hit with a fine of betw...

Lamda Development will build 10,800 apartments at the Hellinikon complex, in what will be a major test for Greece's recovering residential housing market.

Strong demand from foreign buyers seeking to take advantage of low prices and Greece's Golden Visa program has driven up housing prices in the country but a sharp rise in supply levels could well dampen the positive momentum.

Experts warn that the property market is facing a...

Real estate investment company (REIC) Briq is moving ahead with a 50 million euro share capital hike next month but investors on the Athens bourse are cool on the sector, one of the Greek economy's hottest growth markets.

Briq, which belongs to IT group Infoquest, plans to use 40 million euros from the rights issue to boost its property portfolio that currently contains 16 real estate assets. The company has already signed new...

The working life of Greeks has grown slightly to 33 years but remains well below the EU average and countries such as Sweden, says Eurostat.

The method adopted by Eurostat forecasts the number of work years that a 15-year-old has ahead after entering the workforce in 2018. In Greece, that works out to 32.9 years, versus 41.9 years in Sweden and 31.8 years in Italy, according to the data. The EU average stands at 36.2 years

"Swed...

Lamda Development, the company building Greece's eight billion euro Hellinikon complex, expects to complete a 650 million euro rights issue before Christmas as part of plans to raise funds for the project.

Speaking to journalists on the sidelines of the company's extraordinary shareholders assembly, chief executive Odysseas Athanasiou said the rights issue will be completed next month on the condition that it is approved in ti...

Galaxias, one of Greece's smaller supermarket chains, is planning to spend 40 million euros on expansion plans by 2021.

The company currently has a 160 store network across Greece and owns 80 percent of the properties it has branches in. Its property portfolio is valued at around 120 million euros.
 

Company officials said that it intends to purchase ten more real estate assets to accommodate new branches. The majority of funds...

A decision by Greece to suspend VAT on new buildings is likely to increase the country's large shadow economy and may not be in line with EU law, according to the European Commission.
 

Greece announced recently that it will freeze the 24 percent VAT paid on new buildings with construction permits issued as of 2006 to help the market absorb high supply levels and rebound from the country's economic crisis. Some estimates place...