<!– wp:paragraph –> <p>Giorgos Kormas, senior general manager, head of Piraeus Bank Group’s Real Estate Group and managing director of Piraeus Real Estate, said he expects high growth rates in the real estate market after the end of the pandemic.</p>
The assessment that after the end of the pandemic there will be high growth rates in the real estate market was expressed by George Kormas, senior general manager, head of the Real Estate Group of Piraeus Bank Group and CEO of Piraeus Real Estate.
Mr. Kormas estimates that the significant recovery rates presented by the domestic real estate market in 2019 and the first quarter of 2020, was not a temporary phenomenon, but a general trend that will continue to exist after the end of the health crisis.
The head of Piraeus Real Estate made these assessments at the recent NPL Summit 2021, where he underlined the characteristic resilience of the market, despite the waiting attitude of investors at this stage.
Regarding the relationship between non-performing loans and the real estate market, Mr. Kormas stressed that as real estate operates and will continue to operate as a guarantee of investors to creditors, the goal of Piraeus Real Estate is to have the smallest possible inflow real estate that is not easily usable by the company.
Regarding the future of the real estate market, Mr. Kormas pointed out that Piraeus Real Estate, in line with the international trends of the industry, puts the greatest weight of its activity on the digital transformation and the use of the most modern artificial intelligence tools that will make more personalized customer service, as well as the positive environmental footprint of its portfolio buildings.
Source: AMPE