The Greek True Estate (‘σπιτια’) industry within the season of IMF.
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Powerful shock and during the domestic market of real estates (‘σπιτια’, ‘αγγελιες ακινητων’), that may be interpreted with fall of prices in low until high double-digit percentage, depending over a type of genuine estate, is forecasted that will create the imposed activation of mechanism of aid of Greek economy.
It is make that at least the last time the market of real estates (σπιτια) had entered in bending orbit, although reasons genuine estate appreciated, before the access of IMF inside the Greek reality, that exist nonetheless incredibly big margins of fall. During the season however, the IMF the devaluation of prices inside the genuine estates is appreciated that she will probably be more violent and rapid and in particular cases it is going to exceed 50-60%.
More specifically, within the houses the fall is likely progressively, within the after months, it exceeds also the 30%, though the demand is found under the zero. The cause As they explain, the vertical improve of unemployment, which will strike “red”, if is adopted the type of flexible labour relations (flexicurity) that promotes the IMF.
Simultaneously capability reduction of wage within the personalized sector will sink the personalized consuming expense that in combination from the restrictions of banking issuings will produce extra scorn during the genuine estates (‘σπιτια’, ‘αγγελιες ακινητων’).
On another hand, factors of market (αγγελιες ακινητων), the “suffocation” which will be produced within the marketplace of actual estates, becasue of so significantly on the new taxes of what the IMF requires, it’s going to mean the end of all what we know as ‘illegally domestic true estate’
With regard on the commercial genuine estates, the setting which will be shaped is that of complete depreciation. It is characteristic that during the majority of annual reports of firms of growth of real estates, that noteworthy was drawn up dues of passed December, it was reported that this year the investments within the particular real estates will probably be extremely selective.
And can the “parcel of help” functionality beneficially for ones Greek economy, after is decreased the interest-rate of lending, even so undeniably is multiplied the padlocks during the shops, simply because the fall of consumption.
As point out Cushman and Wakefield in her recent report, the tendency that prevails from the commercial spaces they are the tough negotiations of householders – salaried as well as the dilemma of reception of banking lending. The same moment, it is expected is intensified the bleeding that may be witnessed inside the true estates (‘σπιτια’, ‘αγγελιες ακινητων’) of lower commercial value, with out this means that “good projection” commercial spaces will not lose other than their value. Indicative moreover, the climate that prevails it is also the joint call of National Confederation of Greek Trade (ESEE) and Pan-Hellenic Federation of Householders of Genuine estates (POMIDA) for the householders of commercial true estates for reduction of rents.
Depth. innumerable it waits for also the professional real estates, in the enterprises that see their rythms of growth, or remaining constant or receding, be led to fusions and relocations. At the same time, the supply of specific genuine estates is expected to raise not just since the dramatic economic economic situation, but also the activation in this sector of new ‘AEEAP’, as “Pangaia”.
What will follow from the industry of commercial spaces was worked out already ample months front the IMF becomes the uncomplicated regulator of economic developments of our country: Eurobank Properties from the dues 2009 acquired at 26,5% (in the 37 millions. Euro minus obligations) lower inside the price of 50,3 millions Euro that it were singed in 2008, building of offices 24.000 square meters in the country of Bull.
Globally, the rythm of growth of rents, at Cushman and Wakefield, had been decreased the first quarter in Greece in the commercial actual estates and from the offices at 16,5% and 5,1%, respectively. This happens the hour in which in neighbouring Turkey, the proportional sizes marked rise of on average order the 6%.
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