South Suburbs and Center. These are the two areas that are at the top of the preferences for housing purchase in Greece, absorbing a total of almost 60% of demand. This results from Uniko's data, which analysed 4.679 ads, 822 completed transactions and held more than 1,000 discussions with owners.
Southern Suburbs gather 30% of interest and follow the Centre with 29%
In particular, Southern Suburbs gather 30% of interest and follow the Centre with 29%, confirming that areas with access to infrastructure, transport, services and investment prospects still have the greatest weight. The Northern Suburbs follow with 24%, while the image changes significantly in the other regions. The Western Suburbs gather 9%, while Piraeus, Eastern Suburbs and Suburbs of Piraeus move to much lower levels.
Most potential buyers are looking for homes that do not exceed 200,000 euros, while offering these categories is not enough
The great hunting in the housing market
Most potential buyers are looking for homes that do not exceed 200,000 euros, while offering these categories is not enough. According to Uniko's figures, 30% of the demand relates to real estate worth up to 100,000 euros. This is the market segment where the distance between interest and available real estate is the largest. The following is the category from 100,000 to 150,000 euros, which brings together 22% of demand, while another 17% relates to housing from 150,000 to 200,000 euros. In other words, nearly seven out of ten buyers are looking for solutions up to 200,000 euros.
Just 6% of demand concerns housing between 300,000 and 400,000 euros, while for real estate over 400,000 euros interest reaches 14%
On the other hand, the most expensive properties face different conditions. Only 6% of the demand concerns residences between 300,000 and 400,000 euros, while for properties over 400,000 euros interest reaches 14%. This image creates a two-speed market. On the one hand are the dwellings that can be addressed to a wider audience and are quickly absorbed. On the other hand, there is a large stock of more expensive properties that is more difficult to find a buyer.
In real estate more than 400,000 euros availability significantly exceeds demand, indicating that part of the stock does not meet the actual market needs
Stock does not meet demand
According to Christos Fouskoudi and George Giokas, CEO and CRO of Uniko, respectively, the main challenge of the market is not the absence of interest, but the mismatch between what buyers want and what is available. The biggest shortages are recorded in housing less than 100,000 euros, while supply problems also occur in the categories of 100,000 to 150,000 euros and 150,000 to 200,000 euros.
The «Tender Submission Guarantee» connects the exclusive assignment of a property with a commitment to submit a market offer within a given period of time
Instead, as prices rise, the image is reversed. In real estate over 400,000 euros availability significantly exceeds demand, indicating that part of the stock does not meet the actual market needs. The result is that several prospective buyers, especially younger households, are faced with a difficult environment: prices have increased, funding remains a crucial factor and available properties in affordable categories are reduced.
The Uniko Express service, as reported by Christos Fuskoudis and Giorgos Giokas, CEO and CRO of Unikoam respectively (from excellence in photography) is addressed to owners who need faster liquidation or possess properties with greater exploitation difficulties
Trying to return the closed properties
In this reality, the activation of non-marketable properties is becoming a key issue. Uniko attempts to address the problem with two new services aimed at speeding up trade. The «Tender Submission Guarantee» links the exclusive assignment of a property with a commitment to submit a market offer within a specified period of time. If this is not achieved, compensation is provided for the seller up to EUR 2,000.
At the same time, the Uniko Express service is aimed at owners who need faster liquidation or have properties with greater exploitation difficulties. Through a network of investors, the company undertakes the assessment and direct sale of selected properties in Attica. This development shows that the next stage of the housing market will be judged not only by the price trend but also by how many properties will be able to return to the active market.
Source: OT
