Real Estate Prospects in Southern Europe on the Rise in 2022

Real estate prospects in southern European capitals are seen improving in 2022, according to the latest report put together by PwC and Urban Land Institute, though volatility in the sector remains.

Based on a ranking of 31 European cities included in the annual “Emerging Trends in Real Estate – Road to Recovery” report, the outlook in Spain, Italy and Greece improved in the last year. Topping the list is London, followed by Paris and Berlin.

“Madrid has moved up two places to sixth, with a score that now rivals the leading German cities. Interviewees point out that it offers good opportunities across sectors, such as residential and logistics, as well as a strong office market,” says the report.

Rome climbed to position number 21 (from 23rd) and Athens advanced to 23rd place (from 28th place).

On a second-ranking assessing expected changes in rental and capital values in 2022, Athens took first place.

“Relatively few survey participants are active in the Athens market, but they believe the city offers some of the strongest growth prospects anywhere in Europe. This relates not just to the potential recovery of tourism, but also to Greece’s relative political stability compared with Turkey,” says PwC and ULI.

The report goes on to cite one private equity investor who says: “Greece, for the first time in decades, has a stable, pro-business government. This stability is set against a contrasting situation in Turkey.”

In terms of broader property trends in Europe, the annual review points out that there is a clear upturn in confidence but that volatility and uncertainty continue amidst high inflation and supply chain problems.

“The biggest current uncertainty relates to inflation and supply chains, impacting mostly construction prices and delivery schedules, just at a time when the industry wants to resume delayed developments or advance repurposing initiatives,” it says.

“As a consequence, we are seeing strong sentiment swings, as the industry struggles to interpret the potential impact of supply chain disruptions, surging energy costs and labor shortages on real estate, and how long these issues might last,” it adds.

This article was first published here. 

For more Real Estate News & Views on Greece and Europe’s South, head to The Greek Guru.

*Image courtesy of Sotheby’s

Luxurious Handcrafted Candles Made in a Small Corfu Village

Greek brand CHOE was launched a few years ago, in a small village on Corfu, by a couple of talented designers aiming to create natural candles that would delight the senses and insert some luxury into everyday life.

“We use natural materials such as wood, fabric, glass, and bronze, through a series of designs. All of our product lines are hand-poured and handcrafted, furthermore, CHOE’s candles are made only after order,” says owner and creator Helen.Insights Greece - Luxurious Handcrafted Candles Made in a Small Corfu Village

IN+SIGHTS GREECE recently spoke with Helen about their stunning range of candles that are inspired by Ancient Greece and designed to stimulate the senses, and change the mood in any room, while also adding aesthetic beauty to your home.

Tell us a bit about your experience in candle making?

Our training in the industry is mainly based on years of experience with common commercial candles. After countless trials with more exclusive materials (natural oils, essential oils, beeswax, etc) we ended up gaining more specific knowledge on natural fine waxes. On the other hand, our design and handcrafting are mainly based on academic studies and previous work experience in the arts.

What inspires your creations?

CHOE designs are mainly inspired by Ancient Greek culture, with an emphasis on those elements that are preserved in the modern world. Part of our inspiration is also found in Mediterranean nature, our childhood memories, and the scents that remind us of them.

What is the vision behind the brand?

CHOE is an environmentally friendly brand with an emphasis on design and art. We use natural materials and sustainable wax resources while trying to reduce our eco print and waste along the production process. We encourage all who love our products to repurpose and reuse our packaging and empty vessels. This can be done in many creative ways- they can be used as pencil cases, flower vases, decor, jewellery cases- so they continue being loved.

Insights Greece - Luxurious Handcrafted Candles Made in a Small Corfu Village

Tell us about your latest collection. What is your favorite scent in this range?

CHOE’s SS2020 basic collection combines simplicity and minimalistic art forms on fabric. The special Ancient Greek-themed line for this year reflects on the Geometric, Mycenaean, Archaic, Classical, and Hellenistic periods of Ancient Greek Art. Our beloved fragrance selection is inspired by Mediterranean nature, herbs, fruit, and blooms. This year’s favourite is the Bergamot & Amber combination- a rough, yet fine scent, with a citrusy essence.

Where are CHOE candles stocked?

We mostly supply boutiques and concept stores in Greece and abroad, as well as several web stores. Our products are also available online on our website. 

On another note, can you tell us your favourite holiday destination in Greece and why?

How could one possibly choose a single favourite Greek destination? However, there is a small historical village on the island of Corfu that stands out to me. It was developed between the area of the prosperous Ropa Valley and the olive-growth hills. Strolling along the picturesque alleys, you will come across many old stone houses, flowery courtyards, and some historical ruins. The village due to its strategic location and fertile land, use to be an important centre during the Venetian era in Corfu. Nowadays it’s just a charming little village of merely one hundred residents. As you might guess, this is the place where we were born and raised and furthermore, the place where CHOE brand is located.

How would you describe Greece’s design scene in 2020?

Despite the difficulties that the pandemic has brought and the general financial recession, I find the Greek 2020 design scene very creative, while still preserving its own unique mark.