George Kormas: “There will never be a better time to invest in the Greek real estate market”
ANALYSIS / OPINION:
Piraeus Real Estate is the subsidiary of the Piraeus Bank Group, which is responsible for the complete design and implementation of the Group’s real estate strategy and policy, while also managing other Group subsidiaries in Greece and abroad.
It offers the full range of services related to the design, development, monitoring and management of the real estate sector of all sizes and dimensions.
“As the owner of the largest real estate portfolio in Greece, Piraeus Real Estate focuses on the selection and sale of real estate, real estate development, construction management and administration, integrated real estate management, real estate appraisal and brokerage and the provision of investment advisory services for companies and funds who invest in real estate, ”said the Executive General Manager, Group Chief Real Estate of Piraeus Bank Group and CEO of Piraeus Real Estate SA, George Kormas.
Piraeus Real Estate is one of the oldest real estate companies in Greece with extensive experience in Greek specialties and serves clients from all over the world. “Via our innovative digital platform properties4sale.gr and its supporting services, we offer international investors electronic property auctions that guarantee transparency and convenience,” said Kormas. “We have a long and successful history of working with US investors and we acknowledge their clear and well-informed needs. They know the environment and the upcoming trends they want to invest in and focus on getting results quickly and predictably. A mindset that Piraeus Real Estate also encourages and adapts, ”he added.
Despite the pandemic, investments in Greece reached 18.4 billion in 2020, with the decrease limited to 0.6% from 2019. At the same time, the European Commission is forecasting growth rates for the Greek economy of 4.1% in 2021 and 6% in 2022. “In my opinion, there will never be a better time to invest in the Greek real estate market than today,” emphasized Kormas . This is because property prices are still significantly low (in some sectors prices are 50% lower compared to competitive countries such as Italy or Spain), while Greece has all the advantages of a modern and investment-friendly economy, a prestigious tourist destination Energy hub, an ideal destination for technologically advanced companies and a gateway to three continents. The huge investments ahead, supported by the EU’s Next Generation program on climate change and digital transformation, will create significant added value that is directly reflected in property prices. “Greece should become Europe’s success story,” Kormas confidently confirms.