Greece’s ‘heavy’ industry changes hands: real estate listings have been listed for sale on websites in the last 30 days 204 hotels and tourist accommodations.
The data presented in a new report by the pan-Greek real estate network E-Real Estates indicates that the high level of offers is recorded mainly in hotels of a small category – from 10 to 30 rooms, hotels and tourist facilities that have been operating on a family basis all these years. basis, forming the basis of small and medium-sized businesses.
Among the properties for sale, there are also 4 and 5 star properties
“The financial difficulties of every entrepreneur – successive crises, loans, other chronic agreements, the cost of energy, which, due to inflation and the rise in the cost of goods in the supply chain, reduced income and increased costs,” – says the president of E-Real Estates Themistoklis Bakas.
At the same time, from the beginning of the year until May 31, a total of 111 auctions of hotel units were placed, while for the whole of last year, according to the eauction.gr platform, 323 auctions were placed.
Foreign funds mainly buy large hotel properties
Funds of foreign and domestic interests target the real estate market both through the purchase of real estate from individuals and through the purchase of real estate and hotel units with the help of “pink” loans. That is, tourism industry enterprises – hotel divisions that cannot cope with their loan obligations and are on the verge of going into the red.
“Funds are negotiating either to acquire credit and mortgages through receivables haircutting, moving debt, receivables, into their own portfolio, where the borrower will now be responsible to them for paying monthly payments, or through refinancing companies with a guarantee of shares and their assets, or through a combination, the acquisition of credit through the haircut of receivables and simultaneous refinancing”Bucks said.
The choice of refinancing or acquiring a loan to the fund is currently being chosen by several major hotel owners in leading tourist destinations due to financial concerns. Areas where the most hotels are sold include Attica in the tourist spots in the center of Athens and areas such as Plaka, Gazi, Psiri and Omonia.
For sale are also traditional tourist destinations in Crete and the Peloponnese, as well as on the popular islands of the Aegean and Ionian Sea, such as Mykonos, Santorini, Zakynthos, Paros, Naxos, Skopelos and others.
Tables of hotels and accommodation for sale by region
Hotels and accommodation for sale in the Attica area
Hotels and accommodation for sale in Crete and Peloponnese
Hotels and accommodation for sale on the islands
Nationwide network of E-Real Estates: *refurbished, **in need of renovation, ***under construction, ****auction.
Hotels and accommodation for sale in Crete and Peloponnese.
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