The country is ranked first among 34 nations by The Economist for 2022 performance due to its strong growth, narrow inflation, and plunging debt-to-GDP ratio, plus out-performing stock market.

Of course, it wasn’t always like this. But times are very different to the emergency bail outs witnessed in the years following the Global Financial Crisis of 2008.

For the last three years, the dynamics of the commercial real estate market have radically altered. And, net foreign investments in Greece’s property market recorded a high of €778 mln in H1 2022, a 70% increase on the previous year, and the full year figure ended 40% above 2021.

Greece is working hard on becoming a global cloud hub. Meanwhile, project Ellinikon in south Athens is becoming internationally known as the €8 bn regeneration project looks to become the blueprint for designing sustainable, smart cities.

There is a lot more to talk about beside this, as Enterprise Greece has explained to PropertyEU ahead of next week’s anticipated event on the resurgence of Greece during Mipim next week. 

At the Wednesday morning event, foreign investors will hear details from Enterprise Greece on financial incentives and fast track proceedures to lure more foreign capital still. Plus, they will gain a deeper knowledge of the sectors in play, especially hospitality, logistics, offices, build-to-rent residential, senior living, and mixed use development.

The event is free to Mipim delegates who can sign up here. 

GIC, Hines, Cedar Capital Partners, Dromeus Capital Group, Quilvest Capital Partners, Goldman Sachs, Azora, and Blackstone are among big name foreign firms to have made real estate investments in the country.

One of the most pertinent questions beginning to be asked is a relative macro-economic one: with headwinds challenging established European economies, will Greece pick up a further share of foreign investment capital into real estate given its more stable status, or will foreign investors upon who Greece is highly dependent somehow go into reverse?

Paul Gomopoulos, senior managing director and country head of Greece for Hines, says Hines opened an office in the country in 2014 before making its first investment in 2017. Hines alone has given a stamp of approval for other investors to follow suit. He will provide his views next Wednesday.

Dimitris Manoussakis of Savills has known the Greece real estate market for more than 30 years, and will also take part.

Savills recently published papers on three market segments. One of them – logistics – is a sector that he has seen much capital moving towards. The question now is how much further can it go before saturation point and where are the specific opportunities? Similarly, inside knowledge on the office and residential sectors will be provided by Manoussakis at the event as he guides guests through the office and resi sub-markets of Athens including up-and-coming areas.

Meanwhile, Ramsey Mankarious, CEO and founder of Cedar Capital Partners, will talk of the firm’s €200 mln hotel investment in the country as well as detailing the trends in hospitality investing across Greece.

The event takes place from 11am at the Greek Pavilion, RIVIERA HALL R7.A3 - MIPIM 2023.