The real estate market has entered a growth trajectory in recent years after a ten-year period of significant contraction both in terms of activity and in terms of prices and values, noted the General Manager of Alpha Real Estate Management and Investments Mr. Giannis Ganos at Fin Forum 2022. As He explained that the rise in prices and the fall in yields are signs that the real estate market remains quite competitive, stressing that there is room for further growth, given the credit expansion, the increase in mortgages and liquidity.
The trend
Regarding the opportunities presented to financial institutions, he referred to three axes: the increase in the volume of real estate transactions (Real Estate Owned – REO), the consolidation of balance sheets from non-core assets and the increased returns that can currently arise from the real estate exploitation.
Regarding the initiatives that banks should take regarding the development of real estate, Mr. Ganos referred to the rationalization of real estate portfolios by increasing the sales of privately owned real estate (REO). In addition, it pointed to the already observed acceleration of transactions in the sale of significant portfolios, as confirmed by corresponding moves by Alpha Bank.
Leasing
When asked by the coordinator of Capital.gr, regarding the institutional change in leasing that now covers the purchase of housing by individuals, the General Manager of Alpha Real Estate Management and Investments noted that “any financial product brings additional liquidity to the market and provides “More options are very helpful for the real estate industry,” he said, noting that “consumers now seem willing to use a financial tool to buy a home, compared to previous years of the crisis.”
Project Skyline
Mr. Ganos also referred to Alpha Bank Project Skyline which “envisages the creation of a real estate investment platform, in order to attract a strategic partner for the development of investments in the Greek real estate market and includes a real estate portfolio worth over 500 million euros, in within the strategic selection of the Alpha Bank Group for the best utilization of its real estate portfolio “.
Source: Capital
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