The real estate market in Thessaloniki in the post-covid-19 era
The real estate market in Thessaloniki in the post-covid-19 era

The real estate market in Thessaloniki in the post-covid-19 era

Presenters of an internet conference, entitled "The Real Estate in the Covid and post-Covid era", spoke for an impressive reset of the real estate market in the post-covid-19 era, despite the stagnation recorded in the current period. The meeting was organized by the Hellenic-Serbian Chamber of Commerce, Tourism, Industry and Business of Northern Greece and the Observatory of Real Estate Prices and Appraisals of SE Europe.
RE+D magazine

What do real estate market executives predict for the real estate market

Common ground of the speakers was that the outbreak of the pandemic stopped the upward trend of the real estate market, which began to stabilize in 2019 after a number of problematic years, as well as the finding that the post-covid-19 era will mean subversive changes for the industry, along with great opportunities.

Referring to the major projects that have already entered the path to implementation and now have a time frame for completion, the Deputy Regional Minister of Infrastructure and Networks of Central Macedonia, Paris Bilias, stressed that the reform of the image of Thessaloniki that will be achieved will significantly boost the real estate market."The real estate market will flourish in the post-covid-19 era," he said.

The president of the TCG-Central Macedonian Department, Georgios Tsakoumisstressed that he foresees great opportunities in the real estate market, that in order to be exploited will have to be accompanied by brave institutional arrangements, provision of incentives and useful tools. He pointed out that the project concerning the coastal front of Thessaloniki is the most emblematic of what is planned, saying characteristically "it is what will offer a Brand in the city of Thessaloniki".

He noted that the spatial planning promoted by the state, the completion of Thessalloniki's city plan, but also the fact that the work of the National Land Registry has a visible end, will work positively in the recovery of the real estate market. He confirmed that "there is a wave of return" of Greeks who went abroad to work, saying characteristically that "they follow the developments in terms of projects that are planned and implemented and have already started sending resumes in search of a job in their home country". Among other things, he noted that the digital map, the project of 55 million euros planned by the TCG, will work positively in the recovery of the real estate market, while he announced that we will have a contractor and a digned contract by the summer.

The advent of the coronavirus plagued the real estate market at a time when euphoria prevailed in the industry, said the president of the Property Owners of the Prefecture of Thessaloniki, Costas Haidoutis, a lawyer, expressing his dissatisfaction with the reduction of rents to which the owners were forced into.

"Things are not so bad", pointed out the president of the Athens - Attica Brokers Association, Lefteris Potamianos, saying that the recovery in the industry will come from abroad, emphasizing that in the post-covid-19 era we will "witness changes in the industry, regarding its form and structure ". According to him, the driving force of the industry is residencial property and, in this context, he expressed his assessment that "exchange of properties for financial or other consideration will play an important role for our industry in the near future".He also stressed the need to improve the relationship between the real estate market and the state, noting that "unfortunately" this field is still unstructured.

The academic manager of real estate programs at the Kapodistrian University, Fotios Mouzakis, described the prospect of tax reduction in the real estate market as "necessary", noting that in the last 10 years the industry in our country has begun to acquire the characteristics of a developed market.

The meeting was coordinated by the president of the Hellenic-Serbian Chamber and the Observatory of Real Estate Prices and Appraisals of the South East Europe, Costas Georgakos and the commercial representative and vice-president of the Association of Commercial Representatives of Northern Greece, Theodoros Triantaphyllidis.