The Greek property sector will be the first to recover when the economy rebounds, a bank study argues.
According to the report “The Greek property market in the years of crisis,” in the latest edition of Eurobank’s Economy & Markets, the prospects of this sector of the economy are fully tied to the lifting of uncertainty, the return of a stable macroeconomic environment and the lowering of property taxation to more reasonable levels.
The most serious factor adversely affecting the property market currently is that the disposable income of Greek households in the foreseeable future will be lower than before the onset of the crisis.
According to the study, the citizens’ incomes and standard of living depend on the economy’s potential of exiting the crisis.
“The staking of growth on the economic adjustment program is crucial,” it says.