Property investment companies in Greece record revenue growth due to rents

Real estate investment companies (REICs) in Greece have posted a significant increase this year both in revenues and operating profits as a result of strengthening their portfolios with new assets and the increased value of their properties.


The 50 coolest neighbourhoods in the world

Metaxourgeio, Athens
The once-grand neighbourhood of Metaxourgeio in Athens was almost abandoned for years, but now a patchwork of artists, activists and NGO volunteers are breathing fresh life into it. Its crumbling neoclassical buildings are emblazoned with emotionally-charged murals by local graffiti writers. Shabby-looking brothels and squatter spots – tragic reminders of the decade-long economic downturn – have slowly given way to bars and tavernas that hum with activity until the early hours. The Communitism Project, a huge mansion being restored by local and refugee artists, houses exhibitions, film screenings, workshops and parties; it encapsulates young Athenians’ creative energy and ability to make something from nothing. Metaxourgeio is a neighbourhood in that magical, transitional phase where it truly feels as if anything could happen next.


RE/MAX survey: Greek real estate market has begun showing signs of recovery

The Greek real estate market has begun showing signs of recovery, leaving the worst of the crisis behind, as citizens are increasingly showing more confidence in the real estate market - once the steam engine of the economy - RE/MAX Greece said in a nationwide rental survey released on Tuesday, according to ANA. The survey recorded that rental prices were up 8.4 pct throughout Greece compared with the same period last year, reflecting lower inventory of available homes and short-term leasings. The most popular house for rent is a two-bedroom apartment up to 20 years old, recently renovated.


Time to invest in Greece: Greek PM

Greece’s Prime Minister has called on the world to invest in Greece in a message on the occasion of the 83rd Thessaloniki International Fair (TIF) where the USA is the honoured country this year.
“Now is the time to invest in our country’s potential: to capitalize on this positive momentum, to build the future upon solid foundations” said Prime Minister Alexis Tsipras.


Is the Greek financial crisis over at last?

ACCORDING to Alexis Tsipras, its prime minister, “Greece is once again becoming a normal country, regaining its political and financial independence.” Eight years since public-debt woes forced Greece to seek a bail-out from the euro zone and the IMF, the government returned to borrowing on financial markets on August 20th. It is now running a healthy primary-budget surplus (ie, once interest payments are excluded). And after years of depression and then stagnation, the economy is growing again. But the crisis is not yet firmly in the rear-view mirror


How Crises and Bailouts Have Changed Greece’s Economy

Greece is about to exit its bailout, a symbolic move past the debt crisis that exploded eight years ago and transformed the country’s economy and the lives of its people.


Fitch Upgrades Greece to 'BB-' from 'B'; Outlook Stable

Fitch Ratings-London-10 August 2018: Fitch Ratings has upgraded Greece's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BB-' from 'B'. The Outlook is Stable


Athens, Rising

The city has endured crisis and chaos, and yet is now emerging from the wreckage as one of Europe’s most vibrant and significant cultural capitals.


Moody's: Strong growth for Greece in the next two years

The Greek economy is improving, something that is reflected in numerous reports of international houses, financial data, as well as statements of foreign institutional factors.

In particular, Moody's rating agency foresees strong growth of 2.2% for the Greek economy. The Service said on Monday it has shifted its outlook on the Greek banking system from stable to positive ahead of the expected improvement in the banks' funding and asset risk in the coming 12 to 18 months.

 


S&P raises outlook on Greece, affirms rating

The outlook reflects a potential upgrade if Greek authorities were to boost competition in product markets, strengthen property rights, ease bankruptcy procedures and improve the enforcement of contracts, .
The ratings agency said it sees an enhanced policy stability supporting Greek banks and the economy, adding that the country's growth projections will improve, driven by private investment in tourism and logistics due to large public infrastructure projects.