The Greek capital of Athens is a major city in the European Union. Its cultural heritage, climate and hospitality make it a preferred tourist destination. Also, its importance as a trading hub for Asia-European trade is on the rise. Demand for high quality touristic and business lodging is growing.
Real estate prices have retreated since the onset of the past financial crisis and the subsequence Euro crisis. Lack of liquidity in the Greek banking sector prolonged the price depression.
In late 2018 and early 2019 real estate prices started a recovery. We observe this trend reversal ourselves on the ground and the beginning of the trend reversal have been documented by the Bank of Greece’s recent real estate index report.
The recovery phase in Greece is in the early stages, which commonly is a good time to invest, for long term appreciation of value and for generation of monthly income with an excellent yield.