"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
Well said Errikos Arones
Thanks Vassilis P. Pachiyannis for bringing this post to our attention.