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Athens third from last in European property potential list March 14, 2008

Posted by grhomeboy in Architecture Infrastructure, Living.
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Athens ranked among the last cities in Europe in a survey ranking real estate markets for both investment and development prospects, according to survey results made public yesterday.

The survey, put together by research group Urban Land Institute (ULI) and PricewaterhouseCoopers, ranked Athens in position No 25 out of a total of 27 cities reviewed.

The Greek capital was given a low score due to the difficulties encountered regarding the execution of large projects in the city, the lack of available land and “a growing trend by developers to look for property beyond Athens. Without question, Europe is facing a bumpier ride this year than the last few years,” said Richard Rosan, President of ULI Worldwide. “The fact that many respondents remain confident about European markets points to the still-local nature of real estate. We are seeing a lot of guarded optimism.”

The survey covers countries throughout Europe and is based on surveys and interviews with nearly 500 of the industry’s leading authorities. Moscow and Istanbul took first and second place, respectively.

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