Protagonists in real estate demand from investors are the hotels And not only in the popular and well -known areas of Greece, but also in other parts of our country, which are less well known abroad.
In recent years, investor interest in hotels has become increasingly intense, as both the stable economic environment and the upward trend of tourism work in this direction.
In total, the hotels of Greece, according to the FIAK data (Hotel Chamber of Greece) since 2020 have exceeded 10,000 and in 2024 there was a 5.4% increase in 5 star hotels compared to 2023 and 2.8% in 4 stars respectively.
As Lefteris Sikalidis, CEO of Real Estate Counseling Company and Chairman of the Committee of Real Estate & Development of the Hellenic-American Chamber of Commerce, points out, speaking to the Athenian and Macedonian News Agency, there is interest in the market, coastal areas or elsewhere in mainland Greece, and there has been an interest in developing hotels from scratch. However, this presupposes that there will be plans, relevant licenses and business plan.
“We believe that the increase in investment interest is related to the general economic stability that exists, and especially after Covid, the macroeconomic sizes of the economy seem stable and attractive, creating a favorable economic environment. More and more companies are expressing interest in investing. In hotels most of the time, the owner is another and another works. Therefore there is interest in both investors and operators and this is increasing. That is, compared to 2023 there is an increase of 20%, ”notes Mr. Sikalides.
According to Mr. Sikalidis, in addition to the well -known areas of interest (Crete, Santorini Paros, etc.) they have begun to show interest and less known abroad areas such as islands with special complexion, the Peloponnese and other parts of mainland Greece and mainly in Greece.
“However, it should be emphasized that the choice for the purchase is very selective and carefully, as they buy properties that know that they will work. 4 -star hotels are in greater demand and there is interest in resorts, city hotels and business hotels. The City Hotels mainly concern Athens and Thessaloniki, ”says Mr. Sikalidis.
He also emphasizes, according to the recent Property Market Outlook of the Hellenic-American Chamber, “hotels are in the highest demand of all assets and it seems that Greece is turning into a” hotel destination “. However, with regard to the operation of hotels, what we lack and need, is more quality, that is, better services, accessibility, better amenities and overall experience. “Greece as a destination has a positive perspective because it has been left behind in the new developments, whether they were offices, other real estate, etc. All this, because now a ‘frenzy’ is being smoothed, which we believe will be balanced,” Mr Sikalidis said.
Antonis Markopoulos, Managing Director of Digital Property Platform, also spoke about the strong investment interest in real estate over 50 beds, who stressed that this interest is now shifting to other destinations (beyond Mykonos, in general, and in general, the Cyclades) Messinia, Mystras and Mani in general, where there is a high demand for traffic and quite a long tourist season.
“The islands remain firmly in the center of interest for investors but now in some islands such as Mykonos, Santorini, Rhodes, Corfu, demand is even greater tourist accommodation. In general, investment interest is for large hotels from large investment funds (some from London and Germany) and family offices.
Their priority is to buy a hotel and upgrade it. A classic example is the Omonia area where large brands bought old hotels and upgraded them, “Mr. Markopoulos said.
Athens is a destination with great dynamic and prospects, where, according to the president of the Athens – Attica & Argosaronikos Hoteliers Association, Eugene Vassilikos, there has been a great deal of interest in foreign brands in Attica for the last three years.
“This is positive, because it is more franchisee agreements but there are also traders. Of course, there is one “but”, as in the possibility of a new economic crisis, there will be a risk that we will experience situations we have experienced in the past. That is to say, a new financial crisis, because there will be a much greater bid it will be even more difficult to smooth out the situation, “Mr. Vassilikos said, adding:” It is also important to mention the more general investments made in accommodation. This is something we need to see how far we want it and how much we want it. “
Source: RES-EIA