The dynamics that exist in the field of real estate development in Greece and the improvement of the country’s image as an investment destination, as a result of the “more pro-investment policy after the Post-colonial transition”, was highlighted by the secretary general of International Economic Relations and Outreach (DOSE) and president of Enterprise Greece, Ioannis Smyrlis at the 23rd Prodexpo Conference on Real Estate Development and Investments.

Specifically, Mr. Smyrlis citing data from ELSTAT pointed out that in 2021 our country recorded the largest inflow of Foreign Direct Investments since 2002, reaching 5 billion euros in FDI.

Regarding the real estate sector in particular, he said that, although the sector has been significantly tested in recent years, due to the economic crisis and the COVID-19 pandemic, it nevertheless managed to move into a recovery trajectory at a steady pace in 2021 – and especially in terms of hotel units, professional real estate and high-end residences.

Referring to the prospects of the sector, the CG DOSE estimated that they will be positive, despite the uncertainties and obstacles that have arisen in the market due to the war in Ukraine.

He made special mention of the investment and tax framework that attracts real estate investors, such as the mobilization of resources for the energy upgrade of buildings, the simplification and acceleration of procedures through digital transformation, but also the reduction of borrowing costs and ENFIA. He also emphasized that the new Development Law, the Law on Strategic Investments, as well as financial tools provided by the Recovery and Resilience Fund, the new NSRF and the Just Transition Fund also work to support the real estate market.

Finally, Mr. Smyrlis spoke about the active role of Enterprise Greece in attracting investments in the market and property development sector through the systematic highlighting of investment opportunities and providing assistance to dozens of foreign investors who want to proceed with investment agreements in Greece.

SOURCE: APE-MPE