Good news for the real estate investment companies in Greece. As it seems, things have started to improve as the drop in prices of commercial properties in their possession is finally over.
The first thing to indicate this new era in real estate investments was the return to profit of blue chip Eurobank Properties. Last week, the company, which only for the year 2012 had lost 28.1 million euros, announced that its after-tax profits reached 2.7 million euros for 2013, thus, putting an end to the three consecutive years of losses.
According to industry insiders, even though the real estate market will suffer in the first six months of the year, it is expected to stabilize during 2014.
A recent survey conducted by the Athens University of Economics and Business concerning the Greek real estate market of professional buildings, showed that 66.3 percent of experts predict that prices will continue going south for the next six months while 53.6 percent suggested that the demand will be less.
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