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Economy

Pandemic Contributing to Transformation of Real Estate Market, Piraeus Real Estate CEO Says

October 23, 2020

ATHENS — The pandemic acted as an accelerator that brings the future closer to today by transforming the real estate market, George Kormas, senior managing director, head of Group Real Estate of Piraeus Group and CEO in Piraeus Real Estate, said during the Prodexpo conference.

"In Greece we observe an increase in prices of bioclimatic buildings. Enterprises, individuals and investors see in these – only a few today – property assets, advantages that were not so visible. We have already moved into a new era. We have not predicted the pandemic, of course, but we had seen the need for sustainability, for development that will have environment and living quality at its core," Kormas said.

He underlined that digital transformation, incorporating artificial intelligence, the passing from Big Data to Smart Data, were the challenges facing every company and organisation, including the real estate market.

 

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