OR real estate changes, not only because of new technologies or fluctuations of pricebut essentially and in depth, as new forces transform its core: climate crisis, social inequalities, artificial intelligence, political uncertainty, and even the concept of residence as a social good.
In addition to the price formation, the real estate market ceases to be a traditional industry and becomes a dynamic field where the environment, technology, economy and society meet.
This conclusion was highlighted at the 31st Annual Conference of the European Real Estate Society (ERES), organized by the Department of Accounting and Finance at the Athens University of Economics and Business. It is one of the most important academic events in Europe in the field of real estate research and one of the largest in the world, attracting over 250 academics, researchers and professionals from around the world.
The themes of the conference revealed the trends that shape the real estate market at international and European level – and therefore in our country. The landscape is more multidimensional than ever, as the market is now intersecting with technology, environment, social cohesion, political instability and monetary policy issues.
Climate risk and new investment rules
One of the most characteristic patterns of the conference was the increasing effect of climate change on the value and functionality of the real estate. Floods, temperature rise and natural disasters have begun to translate into measurable losses, but also new rules of valuation and lending. Studies from countries such as the Netherlands and Australia demonstrate the importance of Green Finance tools, compulsory risk disclosures and “green” portfolios.
Artificial Intelligence and Digitization: The new map of Real Estate
Technology is now a catalyst for market transformation. From AI to real estate valuation, to digital portfolio management tools and PropTech startups, the changes are sweeping. Analysts use machine learning to predict trends, while buyers and investors have access to platforms that reduce the importance of the intermediate and enhance transparency.
The worldwide affordable housing crisis
A lack of accessible home, delays in new constructions and the general difficulty of accessing a decent home make up a global challenge. Research data highlight the need for new housing policies, including social housing models and a review of subsidies. The forms of “vulnerable property” also entered under the microscope, especially in the case of immigrants and single parent families.
Uncertainty, interest rates and geopolitical instability
Political and monetary agents deeply affect the market. From the increase in interest rates to the volatility of the capital markets and the impact of the war on Ukraine, the framework remains volatile and requires constant reassessment of strategies by investors and institutional players.
Sustainability: From certifications to social value
Green transition is now a key development strategy. Well and ESG certifications, energy efficiency and circular economy indicators, carbon footprint and socially beneficial interventions (such as public parks or the renovation of historical buildings) are now part of the valuation parameters.
The role of education and skills
The 21st century real estate requires a new kind of professional: economists with environmental consciousness, engineers with knowledge of legal regulations, and educational institutions that incorporate technological tools and interdisciplinary thinking. Education is not just a background – it is a critical factor in market durability.
The Greek Example: International Forces, Local Dynamics
In this global context of transformation, where technology, sustainability and social pressure determine the role of real estate in Greece as well. The dynamic course of prices and the geographical differences recorded in the 2nd quarter of 2025 capture how international trends and local policies are forming an increasingly complex and multilevel domestic real estate market.
According to Spitogatos’ SPI price index, which records the evolution of the average of the prices (MZT) of sale and rental, the 2nd quarter of 2025 showed increases of 9.7% on sales prices and 7.2% on rental prices compared to the corresponding period of 2024. rents. The southern suburbs and the Cyclades maintain primacy as the most expensive areas of the country. In particular, Vouliagmeni and Voula remain the leading areas in Attica to buy and rent a housing, with the Cyclades recording an average rent of € 15.3/sqm. In contrast, Kastoria, Kilkis, Florina and Pella are among the most affordable areas, with sales prices below 1,000 euros/sqm. and renting below 5 euros/sqm.
At the same time, a dynamic rise in prices are recorded in areas of downtown Athens, western suburbs, but also in parts of the suburbs of Piraeus. Programs such as “My House 2”, tourist traffic and social interventions in favor of tenants have affected demand, while waiting for admission bases to universities gave temporary mobility to student areas.
The real estate market in Greece, as well as internationally, can no longer be interpreted exclusively by the tender and demand relationship. The price is not only defined by the square or position, but by new data including technology, viability, durability and transparency.