NEWS

Stay up to date with the latest market news and interesting articles, as collected by Zoia

Greek economy shows promising signs of growth

What a difference four years can make. In January 2015, Alexis Tsipras, leader of the ostensibly ultra-leftwing Syriza party, came to power, promising to end the austerity that had plunged Greece into one of the deepest depressions in economic history. Today, under his leadership, a recovering Greece stresses its fealty to the eurozone’s policy orthodoxy.

Deloitte forecasts resurgence in Greek real estate sector

The rapid and continuously evolving nature of technology is expected to create numerous opportunities in the real estate sector, based on an annual report by Deloitte, entitled “Real Estate Report”, naftemporiki.gr reports.

Greek February unemployment eases to 18.5 pct, lowest since July 2011

ATHENS, May 9 (Reuters) - Greece's jobless rate eased to 18.5 percent in February from an upwardly revised 18.6 percent in the previous month, data from the country's statistics service ELSTAT showed on Thursday.

February's unemployment rate was the lowest reading since July 2011.

World’s Best Stock Market Rally has Investors Banking on More

The country’s ASE Index has soared 26 percent, beating 93 other equity benchmarks tracked by Bloomberg, as traders embrace the strongest economic expansion since 2007 and bet on political reform. Investors are pouring money into the Mediterranean nation’s equities, and market players including Jefferies LLC, Bienville Capital Management and Piraeus Securities SA say there are more returns to be reaped.

ISAIAS MANSION

ZOIA property as part of the Athens Open weekend architectural showcase.
Neoclassical building designed by Panagiotis Zizilas in 1923 and fully renovated in 2005. Today it houses Plakas Art School.

Athens Real Estate Investment Climate Heats Up

According to a PricewaterhouseCoopers (PwC) report published this week, Athens climbed to 14th place in Europe from the 29th spot it held in 2017 regarding property investment prospects.

The report was conducted by the London-based company for the well-known “Urban Land Institute.” It notes that Greece’s emergence from the financial crisis, the country’s access to money markets, and its growth rates are crucial factors which will help the property market boom

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Athens takes a huge leap in property investor preferences

The appeal of the Greek property market, as reflected in the increase in competition among interested institutional investors, is expected to grow in the future, especially if the country’s economic recovery continues.

Property prices recorded strong growth of 7.3% in Greece last year

The sharpest increases nationwide – around 9 percent – were recorded among properties more than five years old, the category that accounted for almost 90 percent of transactions in 2018. The prices of newer residential properties rose 6.9 percent.

In Athens, the prices of properties more than five years old were up 6.9 percent, but this was overshadowed by the 10.7 percent annual hike in the prices of new homes.