BoG: Airbnb effect on recovering real estate sector, tourism
The positive effects of the so-called “Airbnb effect” on Greece’s recovering real estate sector came under the Bank of Greece’s (BoG) scrutiny, with the effects listed in the central bank’s recent Interim Report on Monetary Policy 2018.
The interim report makes a particular reference to Greece’s dynamic tourism sector, as well as investments in high-end real estate.
Conversely, low-end properties, residential and commercial, continued to record very low demand in the country, due to restricted liquidity and disappearing disposable incomes by would-be buyers and investors over the past decade.
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