1st Real Estate Conference

The 1st conference on Real Estate was held at the Megaron Mousikis

On November 29, the 1st Real Estate conference was successfully completed in the banquet hall at the Megaron Musikis. The present was given by various bodies in the area, including the Minister and the Deputy Minister of Finance, the new mayor of Athens, and the managing directors of Dimand and Intrakat. The Government expressed its intention to attract new investments, as well as the utilization of the most suitable and priority public properties, a goal that will be achieved by hiring an investment consultant, responsible for drawing up the strategy. Regarding the project "PYRKAL" (relocation of several public services of the center to the site of the former factory in Dafni) Mr. Andriopoulos (Dimand) argued for the success of the project and was clearly in favor of it.

Small urban interventions in neighborhoods and small streets of Athens are a priority of the new mayor of Athens, while limiting the AIRBNB phenomenon was deemed imperative.

The continuous increase in real estate values for five (5) years (after their sharp decline previously) and the continuous demand is considered a normal development (spring effect) which, in combination with the indicators of the economy, the investments that are already developing, but also those that have been launched, lead to the conclusion that there is no question of a "real estate market bubble".

The main challenges are now a given and these are: 1) The (unpredictable) increase in construction costs, 2) High interest rates on loans, 3) The lack of craftsmen.

Reliable research among various CEOs and business owners showed that for the majority, 2024 will be a year of discipline and patience.

The event was also attended by representatives of AEEAP (anonymous real estate investment companies which are now also active in real estate development) with reference to the need for regulations in the institutional framework and the way they are taxed, and representatives of loan and real estate management companies (doValue, Cepal) who mentioned their role and their contribution to the real estate market.