Greek institutional players focus on Athens property
Athens will be at the center of buying interest among Greece's institutional real estate investors in the first half of this year, according to consultant Savills.
In a note on European investments, Savills said that it expects Greek real estate investment trusts (REITS) to proceed with further strategic investments this year, focusing mainly on the Greek capital.
"Such investments are likely to focus on Grade A office buildings and modern retail units. The hotel sector, in line with Greece’s continuously improving tourism industry, is also expected to further attract the interest of investors." it added.
The consultant added that it has observed an increasing interest from opportunistic funds, private equity funds and private offices in acquiring large portfolios of collateralized real estate assets of non-performing loans issued by the Greek systemic banks