Nov 27, 2017
Developers doubled not say tribled their volume in the last 2 years, finding their way again back to the market. Identifying a growing need for houses, the easiest way to restart was the acquisition of a plot with the aim to sell 2 off plan houses. The result was over supply of new off plan houses and the production of very limited flats in areas like Lakatamia, Latsia, Makedonitissa, even Strovolos.
The last 6 months there is a new trend, a new challenge for small to medium size developers.
The hot Flat market is getting back to the old good times. As the value of land increases, the competition in houses is growing and aggressive buyers continue to dominate the market, there is a turn towards flat construction.
As a result, plots with building factor 90% + are on high demand nowadays.
Every time there is a new trend and some developers turn to a new product, more follow making it again overcrowded as the market of houses.
M. Residence will continue to keep an eye on the industry and analyze numbers in order to provide valuable figures to consumers.
M. Residence Brand: New horizons in Real Estate.
Until Next time,
M. Residence Team