On The Track of Remarkable Rebound
Reports released by various financial institutions in June acknowledged the facts that Greek economy is set to a better shape from this year onwards. Wood Financial Group concluded that Greece’s economic recovery goes faster than expected, as all the indicators in all sectors recorded a significant hike in May. IMF (International Monetary Fund), on the other hand, predicted that Greek economic growth in 2021 and 2022 will be 3.3% and 5.4% respectively, due to the country’s swift and proactive reactions to the pandemic.
Greece was rated one of top 10 countries for digital nomads, according to data gathered by InsureMyTrip, a travel insurance comparison website. Yet where the nomads head to within the Greek territories? Greekreporter.com, an international news network interviewed those digital freelancers from various backgrounds in Greece and found out their top 5 places using parameters such as weekly average food cost, weekly average rent, weekly average entertainment expenses, co-working space, internet speed and perks: Athens, Chania on Crete island, Syros island, Volos and Pelion.
Earlier this month the European Commission approved the funding (€17.8 billion in grants and €12.7 in loans) of Greece 2.0, a mega project for the country in strengthening its four pillars: green initiatives, digital transformation, employment and social cohesion and private investments, with the objectives of tackling the disruptions that brought by the pandemic and to build a stronger future.
The new objective value that will apply to Greek properties from 01st Jan next year has been a driver in accelerating real estate transactions across the country since its announcement from the Ministry of Finance. Christos Staikouras, the Minister of Finance said that the new objective values would not have an impact on the ENFIA (annual property tax) as the tax calculation will be adjusted in proportion.
One of the projects under the EU Recovery Fund consists of a 70 km of pedestrian and bicycle pathway connecting the port of Piraeus to the southernmost point of the Attica region, Sounio. Sports facilities and recreational spots will be built alongside and communities will have easier access for enjoying the coastal areas. The first 22Km between Piraeus to Voula is scheduled to begin next month and targets to complete in 2024.
Budgeted at €1.8 billion and hailed as the biggest project of the country, the total length of the U-shaped Metro Line 4 is 38.2 km with 35 stations once completed. The new line will also include 20 automated trains and is expected to serve 340,000 passengers on a daily basis.
The transfer of 100% of Elliniko SA to Lamda Development was completed on June 25, which means one of the largest urban regeneration landmark project: Elliniko will soon commence.
“The crucial significance of the project in the country’s development and upgrade of the quality of life in the greater area, is also amplified through the creation of an innovative metropolitan development friendly to residents and visitors, which combined with the environmental regeneration of Attica through the creation of one of the biggest parts globally and the biggest metropolitan recreational park in Greece measuring 2M sqm, will redefine Athens and Greece as tourist and cultural magnets as well as safe business cultural and investment destinations.”
Tilos, a small Greek island in the south-eastern Aegean Sea won the third prize of EU RESponsible Island for 2020. EU praised the island for speeding up its clean energy transition as a result of the commitment of the local municipality and the pro-environmental culture of its citizens. Its innovative energy model with community-scale wind and solar, battery energy storage and advanced energy management will set as an example to inspire other islands and local communities.