In 2013 investments in real estate in Greece have grown tenfold

In 2013 investments in real estate in Greece have grown tenfold

In 2013 investment into European commercial property increased by 22%, amounting to €141 billion, which is the highest figure for the last 6 years. Greece has become a leader by investments growth, according to ee24.com citing savills.co.uk.

The growth by 1000% in Greece was driven by the privatization of state property. Authorities have sold several public buildings in Athens.

Apart from Greece, investment growth was observed in Ireland (210%), Italy (138%), the UK (43%), Poland (28%) and Germany (20%). In contrast, markets of France (-8%), Sweden (-17%) and Norway (-23%) could not attract as much as in the previous year.

Interest in buying offices in Europe dropped to 47% of the total number of transactions, but the sector continued to lead. At the same time, in 2013 the share of investment into industrial facilities increased to 12%. The share of transactions with retail premises amounted to 26%, and with the remaining types of commercial property - to 15%.

Markets in Spain, Italy and Poland were the most dependent on foreign investors, while local investors were dominating on the main European markets such as France and Germany.