Calamos Supports Greece
GreekReporter.comGreek NewsEconomyAthens in 13th Place Among European Cities for New Investments

Athens in 13th Place Among European Cities for New Investments

athens_realestateA new study conducted by PwC and the Urban Land Institute on trends in the real estate industry in Europe reports that Athens places 13th among the European cities with prospects for new investments, showing that foreign investors believe that the financial crisis can create new opportunities.

However, investors still remain hesitant because of the negative provisions for the Greek economy. Instead, they turn towards countries that are recovering, such as Ireland and Spain, as well as regional towns. At the same time, the privileged properties in major European markets are currently considered overpriced.

The majority of participants in the study prefer to avoid Athens since they believe it is a very difficult market. The study shows that both Greek and foreign investors are discouraged by the difficult economic situation, despite the fact that the country has managed to stay in the euro zone and is implementing a strict austerity program in order to recover.

Ireland can be an example for Greece. Two years ago investors thought that the property market in Dublin was “prohibitive” but today they rank it  among the best in Europe. The intense competition has caused an increasing trend towards investments beyond the conventional markets of London, Munich and Paris. Now investors are turning towards real estate in smaller cities which can yield more stable revenues.

See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!



Related Posts