Downturn in Greece and abroad will sap property market
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Significance This second extension is due to a slower-than-expected fall in cases in the COVID-19 pandemic’s second wave: 904 new infections were reported in the previous 24 hours yesterday, the first time since October 26 that daily cases have fallen below 1,000. The lockdown’s restrictions on economic activity threaten to reverse the nascent economic recovery, including in the real estate market. Impacts An economic downturn in investors’ home markets could dampen demand for Greek properties. The volumes of non-performing loans secured by real estate are expected to rise along with increased corporate insolvencies. An increased supply of properties for long-term residential rentals will push down rents in large cities.
2019 ◽
Vol 11
(2)
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pp. 138-196
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2013 ◽
Vol 21
(2)
◽
pp. 13-21
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2019 ◽
Vol 12
(2)
◽
pp. 207-226