REAL ESTATE

According to a report from BNP Paribas Real Estate on the impact the pandemic is having on global real estate, it is estimated that for at least the next six months, ie for the second and third quarters, investment activity will enter hibernation mode.

In the center of Athens, there was an annual drop of 4.7 percent, while in the fourth quarter of 2019, rents gave up 6.2 percent. Now, the average monthly rent is 9.44 euros/sq.m. versus 9.9 euros/sq.m. in the first quarter of last year. Respectively, in the southern suburbs, rents eased 1.1 percent, extending a 0.9 percent drop booked in the previous three-month period.

He said that Europe got out of all the major crises stronger and referred to the need for closer cooperation and also the issue of a eurobond. On the repatriation of Greeks, he said that the government wants to keep the coronavirus away from Greece. Only those suffering from a serious health problem certified by a doctor will return to Greece.

Ξενοδοχεία στην Κρήτη, μετατροπή του Odeon της Συγγρού σε ξενοδοχείο, εμπορικό πάρκο στο ακίνητο Μουζάκη, μετατροπή του Athens Heart σε εκπτωτικό κέντρο και σχέδια για το Βοτανικό από την αμερικανική Hines.

Σειρά μέτρων, φορολογικού και όχι μόνο, χαρακτήρα σχεδιάζει η κυβέρνηση προκειμένου να ενισχύσει τον τομέα των ακινήτων, σύμφωνα με τον υπουργό Ανάπτυξης και Επενδύσεων.

The company has raised 78 million dollars in capital, is currently present in 12 cities across three continents and is targetting the management of 50,000 apartments by 2023, up from 3,300 today, in 50 cities. Blueground is an example of a successful start-up and managed in 2019 to raise more money than any other Greek start-up, in funds reaching 62.7 million euros.

A major makeover is taking place at Patision street, one of the busiest streets in central Athens. Four new property investments (and possibly a fifth) are set to take place on the street with most located on the stretch between Omonia square and the Athens University of Economics and Business (AUEB).

Turnover of the company's shopping centers rose 2.5 pct compared with the same period in 2018, with average occupance reaching 99 pct. Net Loan to Value ratio was 38.1 pct, while the company's share price was 8.23 euros at the closing of December 31, 2019, up 53.4 pct from a year earlier.

In a report, ING said that price growth in Greece, France, and Italy will outperform levels seen in 2019. In Greece, the report said, "there was a clear turnaround in 2019 and we expect that the recovery will continue in 2020," with prices forecast to advance by nearly six percent.

Specifically, the SCI was subscribed by approximately 1.1 times as investor demand amounted to 105,737,572 shares. 99.14 pct was covered by subscriptions by investors exercising the pre-emption right with the payment of a total amount of 644,415,560.90 euros corresponding to 96,181,427 new common registered voting shares.