'Cloud' of falling real estate prices in Europe and America: expert opinion on CNN Greece.

The real estate market in the world and how it is expected to evolve in our country in the near future is discussed by Mr. Yannis Revithis, Chairman Emeritus of Real Estate Agencies, Founder and CEO of Revithis & Partners, at Prodexpo 2023.

"We are currently seeing a cloud of falling real estate prices in Europe and America, both commercial and residential," notes Mr. Revithis, explaining that "this is due to armed conflicts in the Middle East and Europe.

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Also, rising interest rates, higher borrowing costs and the rising cost of building materials are making construction more difficult. "

"If this 'cloud' continues to move in Europe and America, it will inevitably reach our country as well," he opined,''adding that "still Greece is a small economy, a small country of real estate and real estate market".