Experts See Greece’s High-end and Luxury Tourism Market Growing

Luxury resort in Greece. Photo source: Visit Greece/ Fragou.

Real estate experts attending the 24^th Prodexpo conference held in Athens last week are forecasting that Greece’s high-end and luxury tourism market are set to gain ground in the coming years attracting keen investor interest.

Speaking during a panel discussion on “How Rising Interest Rates Affect Real Estate Investments and Non-Performing Loans”, George Mountis, managing partner at Delfi Partners & Company, said Greece was a good opportunity for investors, particularly in the field of tourism, which is made up mostly of family-run businesses that have remained resilient in times of crisis.

“In Greece, money is harder to come by, interest rates will affect prices, and we will see a correction in the next six months,” he said, adding that the stock of non-performing loans is limited for investors.

George Mountis, Managing Partner at Delfi Partners & Company. Photo source: Delfi Partners & Company.

He went on to refer to the vast potential of the tourism market, which he said is complex as it consists of divergent grades for the investor, with the high-end and luxury segments being those that will eventually prevail as products despite requiring special management.

Also participating in the panel, economist and Resolute Group VP of the board George Kormas said that Greece had successfully managed to emerge stronger after the 10-year crisis, offering a secure investor environment while having an advantage over other European countries in real estate investments.