Engel & Völkers continued its international expansion with the opening of a market centre in Athens. It operates from the Athens Tower 1, the highest building in Greece, with office premises spanning approximately 700 square metres. Premium residential property will be brokered from this central service platform throughout the entire metropolitan area and in coastal regions.
“With the new centre, we intend to strengthen our market position in Greece and tap into another important core market in Europe,” said Natalie Leontaraki, managing director of the Engel & Völkers Market Centre in Athens.
The property market in Greece offers huge potential for growth. In 2018, purchase prices for luxury villas in the coastal resorts of Glyfada, Voula and Vouliagmeni reached as much as €40 million. Apartments in Kolonaki and Plaka, near the world-famous Acropolis in the historic city centre, fetched prices per square metre of up to €5,000.
“Apart from the high level of national demand, we are registering increased interest from international clients from Germany, Switzerland and the Arab Emirates,” said Leontaraki, adding that the stabilisation of the Greek economy is creating good investment conditions in the residential property market.
“Now is an ideal time to invest in a high-end first or second home,” she added.
The brokerage region of Engel & Völkers will encompass the centre of Athens, the Athens Riviera, the coastal town of Porto Heli and the Cyclades Islands including Santorini and Mykonos.