On Thursday, 30 November 2023, ULI Greece & Cyprus launched the annual Emerging Trends in Real Estate Europe report, which was attended by more than 70 professionals from the Greek real estate industry, including investors, financiers, lawyers, architects, valuers, and real estate consultants. The event took place at the OTE “Megaro” in Marousi, Athens.

The conclusions of the 2024 research, based on interviews and surveys with significant players in the real estate business, were given by keynote speaker Simon Chinn, Vice President, Research & Advisory Services, Europe.
This year’s Emerging Trends in Real Estate® Europe 2024 report depicts an uneasy sector grappling with Europe’s extraordinary market conditions. While some investors remain optimistic, the great majority of European real estate professionals are looking for stable footing as ESG standards, geopolitical turmoil, and high interest rates upset the post-Covid period social quo.

The presentation was followed by a panel discussion and a brief Q&A session with key members of the local real estate investment community, including Adamantia Phoca, Senior Business Development Manager Hospitality, Health & IRC, Lamda Development S.A., Nikos Baziotis, CFO/CIO, Premia Properties, and Nikos Keramaris, Head of Investment Origination & Execution Department, Prodea Investments.

During the panel discussion, Adamantia Phoca highlighted the difficulties in the Greek market and the importance of strong stock, particularly outside hospitality. She emphasized the need of ESG compliance in new city planning, as well as the need for Greek stock to line with long-term aspirations. Phoca also emphasized the cultural shift required for elder homes and the growing popularity of real estate with services. She emphasized the importance of trust in the investing environment by mentioning the future possibilities of BTS and BTR models.

Nikos Baziotis discussed the demand for alternatives, driven by foreign investors and improved country risk perception. He stressed the importance of ESG, mentioning large investments in sustainable projects such as green bonds and stock upgrades through the recovery fund. Baziotis emphasized the importance of timing in capital raising and bond issuance, with an emphasis on yield and debt spread. He cited the success of student dormitories as proof of the power of knowledge and size.

Nikos Keramaris spoke about Greece’s challenges and growth, particularly in green offices and logistics. He emphasized concerns regarding liquidity and product development during a transitory phase. Keramaris highlighted demographic issues in senior living and the possibilities of data centers in the future of logistics. He stressed the affordability of green bonds before their increase and the need of partnership with the government, especially in resolving affordability concerns in a tourist-driven country.

The panel was followed by a highly interesting tour and presentation at the newly restored “Megaro” OTE. Krysta Petropoulou is the asset management director of OTE Estate, and Vassilis Simos is the senior manager of OTE Estate.

The evening concluded with Networking drinks.