An interview with Danae Tsakiris, Associate Director at Kentriki Property Valuers & Consultants, International Associate of Savills
Kentriki-Savills Greece is a leading real estate company offering an extensive range of specialist services to property investors in Greece and neighbouring countries. Members of the Savills International network since 1997, Kentriki advises on both residential and commercial markets, and provides an essential resource in helping investors get the most from their property.
The company’s services encompass the full suite of real estate opportunities. Developers of retail outlets, theme parks, ski resorts and industrial developments have all found success with Kentriki-Savills Greece. Then of course, there are those who have made their dreams come true in this stunning part of the world by purchasing second homes or maximising buy-to-let opportunities.
The team lead with their invaluable local knowledge, making Kentriki-Savills Greece the go-to advisers for market research, feasibility studies and development proposals. They also specialise in helping clients market and manage their properties.
The Luxury Report caught up with Danae Tsakiris, Associate Director and member of the Residential & Commercial Agency team at Kentriki-Savills Greece to find out more about the company and its work.
What is the secret of Kentriki-Savills Greece becoming a market leader?
Danae Tsakiris: There is no secret really. Our team consists of professionals with extensive knowledge of the Greek and Balkan markets, who offer advisory and agency services that are second to none across the region. To ensure our services are best-in-class we maintain three guiding principles: our professionalism promotes collaboration, so we never lose sight of the client’s best interests; we maintain a fresh and innovative approach to our work – the client must always receive the most up-to-date opportunities; and we foster an entrepreneurial spirit, which ensures our team have every chance to further their own careers – this drives the company forward as a collective.
What are the benefits of your association with Savills International?
Kentriki has been a full member of the Savills International network since May 1997, and is one of the oldest associates of the global real estate provider. While being established as a powerful player on the local property scene in our own right, being part of a network of 39,000 professionals working across 70 countries has huge benefits. It provides global reach for property marketing, direct links to any capital market in the world, international research expertise, and cross-border investment opportunities. These are just some of the benefits of our association with Savills International, for us and for our clients.
Has the health crisis changed your clients’ outlook, or altered your approach?
We are living in strange times. Travel restrictions have put great impediments on our clients’ plans, and new developments may well bring further changes to our way of life. Our focus is on maintaining reliability and minimisation of risk. Greece’s exceptional human capital, advanced infrastructure, geostrategic position, and potential for economic expansion remain drivers for attracting investor interest from around the world. These investors – whether it’s families looking for a second home, or large institutions looking to invest in emerging, highly profitable sectors – must feel secure in their decisions and the future of their investments. We are their eyes and ears on the ground and seek to provide the very best market insight, and right now, this is more important than ever.
Has the crisis affected the market? Provide some examples of properties that are in demand at the moment.
Greece offers a range of opportunities for all types of buyers in many asset classes, across a range of great locations. Institutional, and other large-scale investors, are currently focused heavily on the office sector, which has great potential as rental demand for prime office space is high. Tourism was and still is one of Greece’s most fruitful sectors and a large number of hotels and resorts are still opening or under development. However, the global health crisis put a strain on tourism. Even though Greece performed better than expected in 2020, property investors in this market are more hesitant.
In the residential market, arguably the biggest international interest is from private buyers, whether for second homes or investors for the buy-to-let market. We are currently marketing more than 400 properties. These range from large luxury villas on beautiful Mykonos, to cosy apartments in Corfu town, from traditional stone houses on less touristic islands, such as Andros, to beachfront villas in golf resorts. Urban living remains prominent also, from sea view pied-à-terres on the Athenian Riviera to modern city centre apartments.
Are there any especially exciting projects in the pipeline right now?
During the last year we had the honour of being appointed as Strategic Real Estate Advisors to Lamda Development for the Hellinikon Project – currently the largest redevelopment project in our part of the world. We have been involved in the project for a long time, so the appointment was an important step forward for the company. Having just started demolition works in Q2 of 2020, it is great to see the plans and strategies that we have advised upon starting to take shape, and we can’t wait to see how Hellinikon will give a whole new look to the area and elevate Athens to global city status.
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