Hellenic Properties

"The market has given us excellent returns over the last 5 years and is now showing signs of stability and maturity. Buyers in the market have become smarter and more rational about what they buy and how they value that, which is very encouraging and healthy. As to whether we are at a peak, the numbers say yes, we are either very close or already reached previous peak levels of 2006, but it is essential to note that in terms of price per square metre, we are still the cheapest market in the Eurozone," Errikos Arones, Hellenic Properties CEO, noted during the recent Athens Investment Forum.   "From here on, it isn’t realistic to believe the market will continue to go up by 50 or 70% in the next five years as it did in the previous five. Passive investor returns will continue to increase but are much more closely linked to inflation than price growth. That said, the market will continue giving high returns, albeit in a different way. The market's excellent supply and demand fundamentals, the low pipeline of development projects, the virtually non-existent vacancy in commercial properties, and the continuation of the downward real estate cycle in the rest of Europe lead us to believe the market will give high returns to those who manage to take advantage of the many opportunities hidden in the Greek real estate market, not to everyone," he added.

It's another great moment for all of us at Hellenic Properties! 🚀 The Heritage, our all-new residential project in Kiffisia, received two honours at the 2024 European Property Awards: Best Residential Renovation/Redevelopment and Best Apartment/Condominium Development in Greece. 🏆   Those awards celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry. An International Property Award is a world-renowned mark of excellence.   Located in the prestigious Strofyli neighbourhood of Kifissia, one of Athens' most upscale suburbs, The Heritage is a visionary project by Hellenic Properties that transforms a former royal residence into a collection of luxury homes with modern specifications while preserving its high aesthetic design through timeless integration with the natural environment. With a deep respect for its historical heritage and a focus on innovative modern features, The Heritage revives the glamour of the past, embracing the present and future in a harmonious blend.   Originally built as a summer home for Aspasia Manos, wife of King Alexander I of Greece, Hellenic Properties, in collaboration with a team of renowned architects and engineers, reimagined this landmark property into seven exclusive townhouses. The Heritage offers two-bedroom apartment suites from 168 sqm starting at €1,500,000 and three-bedroom duplexes from 334 sqm, priced from €2,100,000. Each residence includes a private garden or a large terrace and comes with two dedicated parking spaces.    With A+ energy certification, underfloor heating, smart home management systems and electric car charging, The Heritage redefines sustainable luxury for the 21st century.

"Affordable housing is a complex and multifaceted issue that requires a nuanced approach. The first thing to say is that although it is undoubtedly a measure that will help temporarily relieve the most vulnerable people, which is crucial, we should not view it nor rely on it to resolve the housing crisis. The only long-term solution to address the underlying problem of the housing crisis remains to take all measures that encourage residential development and homebuilding. This will, in turn, balance the supply and demand equation, de-escalate price growth, and make housing more accessible, coupled with policies aimed at increasing real household income. Even the most successful affordable housing models have not proven as functional as measures that increase the supply of properties in a market," Errikos Arones, Hellenic Properties CEO, noted during the recent Athens Investment Forum, regarding one the hottest issues in the real estate market today.   "That said, the proposed affordable models are in the right direction, and I believe we will see significant deals moving forward soon. Their implementation is urgently needed, as the housing crisis will worsen before it becomes better. In any case, I strongly believe these models must take into account two things: First, to reuse Greece's dated stock of properties instead of adding new square meters to a market already suffering from overbuilding, and then for the Greek state to exploit its unused or underused stock of vacant properties which amount to tens of thousands of square meters mainly located in city centers," he added. #AIF #realestate #affordablehousing

We are delighted to sponsor the upcoming Athens Investment Forum, themed “Greece as a Stable Development Pillar of Southeast Europe.” Don’t miss the opportunity to hear from Errikos Arones, CEO of Hellenic Properties, as he joins a distinguished panel to discuss the strategic investments positioning Greece as a key development hub for Southeast Europe. The Athens Investment Forum has become a premier platform where businesses and public institutions come together to foster collaboration and drive impactful growth across the region. 🗓️ Date: November 5, 2024 🕒 Time: 10:00 AM 📍 Location: Megaron Athens Concert Hall, Banquet Hall #AthensInvestmentForum #SoutheastEurope #BusinessGrowth

🌟 We’re proud to announce that Hellenic Properties is a silver sponsor of this year’s Athens Investment Forum, held under the theme “Greece as a Stable Development Pillar of Southeast Europe.”   The Athens Investment Forum has become a premier platform where businesses and public institutions come together to foster collaboration and drive impactful business outcomes.   Join us at the 7th Athens Investment Forum on November 5 at the Athens Concert Hall as we explore pathways for growth and stability in our region.   #HellenicProperties #AthensInvestmentForum #SoutheastEurope #BusinessGrowth

"The Greek real estate investment market is at a pivotal moment, where a big opportunity presents to turn Greece from an up-and-coming European real estate investment market into a must-invest one. As European markets continue their declining trajectory, investors are increasingly targeting the Greek market, which is in a counter-cyclical phase, as is evident by the latest investments by organizations such as HIP/Blackstone, HIG Capital, GIC, and numerous others", Errikos Arones, Hellenic Properties CEO, mentioned during a fireside chat with journalist Jannis Foskolos on the opening day of this year's Prodexpo conference.   "As prices climb, substantial product destined for development is coming on the market to fill the increasing demand for newbuilt product with leases and sales taking place off-plan, while banks are eager to finance mature projects with attractive terms. The sector has demonstrated a five-year track record of successful investments and exits, and we must now build on that momentum and increase", he added. "However, key challenges persist. The primary concern is maintaining stability in the legal and urban planning framework, as inconsistency can easily damage investor confidence. Construction costs and affordability issues are also significant, with some market segments surpassing previous peaks to set new records. To attract major institutional investors, Greece must focus on building stability, evolving tax incentives, and investing in infrastructure to support sustainable growth", Errikos Arones noted. #Prodexpo #Prodexpo25Years #RealEstateConference

Join us for an engaging fireside chat between renowned journalist Jannis Foskolos and Errikos Arones, CEO of Hellenic Properties, on the opening day of the Prodexpo conference. They will dive into the dynamic landscape of real estate development in Greece, exploring key challenges such as soaring construction costs, labor shortages, and regulatory uncertainties. The discussion will also highlight the crucial need for reliable data on rental prices and sale yields to support informed investment decisions, emphasising the market's overall health and pointing out the need to maintain an adequate supply of newly built properties to attract new types of users to the Greek market and drive further growth of foreign direct investment into Greek real estate.   📆 Save the Date: Monday, October 21, 13.30 - 13.45   📍 Venue: Megaron The Athens Concert Hall   Register now: https://lnkd.in/dNzGDkrs.   #Prodexpo #Prodexpo25Years #RealEstateConference

We are proud to announce that Hellenic Properties is a grand sponsor at the 25th Prodexpo conference, the annual flagship event for the real estate industry in Greece. Prodexpo brings best-in-class content, from speaker sessions to mentoring sessions, new business trends, and thought-provoking discussions on real estate. Tsomokos Communications is organizing the conference, which will take place at the Athens Concert Hall on October 21-22. Save your seat at https://lnkd.in/dNzGDkrs. #Prodexpo #Prodexpo25Years

Hellenic Properties presented its new investment in the hotel infrastructure sector in Piraeus during an event attended by market executives, partners, representatives of social organizations, and journalists. The new 33-room design hotel with breakfast and meeting facilities, managed by Santikos Collection, recently opened its doors as "Twinn Downtown Piraeus" and has already responded positively to the needs of the local market since its first months of operation. Its strategic location in the centre of Piraeus and next to one of the largest passenger ports in the Mediterranean highlights the value of modern tourist units in the area. Furthermore, this investment reinforces Hellenic Properties' core pursuit of reviving old vacant buildings in the urban fabric and its contribution to promoting Piraeus as a separate tourist and investment destination from Athens through close cooperation with the municipal authority, local businesses, and other strategic partners. "We are so pleased that we completed the retrofit of the property at 14 Iroon Polytechniou Avenue, from an old and empty '60s office building with static issues into a modern design hotel. This investment is yet another stage in the implementation of our strategic plan to contribute to the organized upgrading of the urban fabric of Piraeus through investments with a limited environmental footprint in the construction of the building -since we reuse the existing cell- but also in its operation, since we are talking about a building with an energy class increased by five classes from the one we received. At the same time, the operation of this new accommodation unit strengthens the economic and tourist activity of the area. It also contributes to its aesthetic upgrade, which for us is always one of the main targets", Errikos Arones, Hellenic Properties CEO, noticed. The new investment is located at a key point, just 150 meters from the Piraeus Municipal Theater and the Metro station. It offers visitors excellent access and panoramic views of the city and the port. The property, with a total area of 1,473 sq.m. and nine levels, incorporates modern architectural lines and advanced facilities.

In Europe, buildings account for 40% of energy consumption and 36% of carbon dioxide emissions. In the 27 countries of the European Union (EU27), residential buildings make up 3/4 of the total stock. At the same time, cities are often where people experience the impacts of climate change, rising living costs, and socio-economic inequalities.   The “Building for Today and the Future: Advancing a Just Transition in the Built Environment” project examines green transition processes in the built environment of eight cities globally, aiming to strengthen the understanding of social justice and human rights issues in each context and globally, and open up pathways for local and international action to improve the social sustainability of these processes. The results of this project will help stakeholders make informed decisions in urban and sustainability policies and take steps towards implementation (in various contexts and at various levels of governance).   Hellenic Properties creative director, Virna Koutla, participated in that global 2-year research project.   Athens' research summary report shows the results of the research regarding the status of human rights and social justice in the city’s transition - https://lnkd.in/gcuiZ-fn.   The visioning workshop write-up summarizes and visualizes the vision for a just transition in Athens and identifies the challenges and opportunities to achieve it - https://lnkd.in/gnbH7P-W.   Project’s overall: Compendium and digital reports, bringing together all the insights, lessons, and recommendations from studying just transitions in the eight cities - https://lnkd.in/geDGnC3c.