Athens real estate will have a top performance in Europe in 2022
PwC and Urban Land Institute rank the highest property in Athens, based on the forecasts of experts for the increase of values and rents in 2022.
The best prospects among its markets Of Europe for 2022 presents its market Athens, based on the provisions for claims, according to its research PwC and his Urban Land Institute (ULI), to which the city ascended 5 positions.
Market performance in Europe The study warns, however, that uncertainty remains due to inflation and supply chain pressures, and the need for active asset management is needed.
In the context of the market overview, 744 executives, among which are managers of foreign investment funds and investors ΑΕΕΑΠ, the Athena went up to 23rd place from 28th last year, in a ranking 31 cities as the Greek capital seems to be at the beginning of a strong upward cycle.
Relatively few survey participants are active in Athena, but strong prospects are emerging, not only because tourism is recovering, but also because of the relative political stability that characterizes Hellas compared to Turkey, emphasizes the PwC and ULI.
A private equity investor pointed out in the research that “For the first time in decades, Greece has a stable government, which favors investment”.
In a second evaluation of the research that examines the projected course of values and rents for 2022, the Athena located at the top Of Europe, followed by Copenhagen, the Berlin, the Hamburg and Munich in the top five.
In her statements to BusinessDaily.gr, the Eri Mitsostergiou, President of ULI Greece & Cyprus, emphasizes that the top three investment sectors that are formed are the new energy infrastructure, life sciences and logistics companies. Offices and retail are not even in the top 10.
“In this context, recent investments by large multinational companies in data centers, digital nodes and R&D in Greece could further improve the country’s attractiveness as an investment destination.”, emphasizes Mrs. Mitsostergiou, which is and Director of Research at Savills.
New relationship with the customer
More than two in three survey participants say their top priority for the next five years is organizational transformation, which requires an unprecedented change in mentality, skills and leadership across the industry.
After her debt crisis Of Europe, and the advent of the pandemic, many are waiting for the next event that changed the market data overnight.
Experts in the field argue that the new economic reality requires more flexibility, both in investor strategies and in customer relations. You also need one more active management of assets, compared to the past when for many investing in real estate was like putting in a bond, that is, after the investment, they just waited for the returns.
Mrs. Mitsostergiou explains that the criteria for what constitutes a “successful” high quality property evolves along with the growing importance of operational assets the need for much greater emphasis on customers and the use of technology.
“An increasingly important ESG agenda with an impact on brand and reputation is also becoming a lever of success. Overall, industry experts recognize that real estate income is no longer as much like bonds as it used to be, but required management and numerous skills. “, she emphasizes.
While the market has emerged from the worst of the Covid crisis with renewed enthusiasm, respondents described their concerns and the report says “professionals are on the lookout for the next subversive event.” adds Ms. Mitsostergiou.