Secondary Property Market: a new investment opportunity
Real Estate | March 2021

 

 

 

 

Secondary Property Market: a new investment opportunity

 

The formation of a Secondary Property Market is being examined by the Greek government with the target of exploiting properties emerging from Non-Performing loans. More specifically, approximately 1.000.000 properties are currently assurances of Non-Performing loans, while a percentage of 20-25% is estimated to be part of loans where no resolution can be reached with borrowers. Therefore, an estimated amount of 200.000 properties is about to be available in the Greek market.

The central idea under the government’s examination is exploiting and investing these properties through Servicers or collaborating Real Estate agencies. Through the acquisition of these properties by the so called “Servicers”, the objective will not be a simple re-sale but, on the contrary, a motive and opportunity will emerge for attracting investments in order to improve the properties.

The expected outcome is the revival of private investment interest in properties, at a perfect timing along with the end of the pandemic crisis. The above procedure is expected to “counter-balance” the pressure in property prices which results from the auctions.

The properties emerging from Non-Performing Loans, the so called “secondary Property Market”, is expected to be of great interest to foreign investors, as it will introduce brand new investment opportunities in Greece, with significant potentials for profit.

 

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