Mild Increase in Property Prices Expected in 2024

Property prices are expected to increase at a moderate pace in 2024, with the market maturing towards 2025. However, delays in property transfers and the inactive building stock remain significant issues.

According to the brokers' forum at the Prodexpo real estate conference, there has been improvement in transfer processes through digitization. Mr. Giorgos Rekas, lawyer and head of Legal Services at Sioufas & Associates Law Firm, mentioned that the time for transfers has decreased from 120-150 days to 60-90 days, although it remains high.

Mr. Lefteris Potamianos, president of the Panhellenic Federation of Real Estate Brokers Associations of Greece, emphasized the resilience of the Greek market, but also the imbalance between property values and household capabilities. He also referred to the lack of consultation between the State and market stakeholders in the design of programs.

Mr. Potamianos pointed out two significant problems: delays in property transfers and the inactive building stock.