2025 Outlook

By Dennis Lidis, Founder & CEO

Athens in Global Perspective

Athens enters 2025 as one of Europe’s most compelling metropolitan investment markets, driven by a structural undersupply of quality housing, a revitalised mortgage market, and a secular shift toward rental living. According to the Bank of Greece, residential prices have risen consistently since 2018, with cumulative growth exceeding 65% in prime districts — yet values remain at a discount to comparable European capitals, offering further upside potential.

Mortgage lending continues to expand year-on-year, creating a more liquid buyer base and deepening exit optionality for institutional owners. Simultaneously, a resilient rental market — powered by university students, corporate relocations, healthcare professionals, and digital nomads — provides durable income streams.

Macro Fundamentals – Stability as a Catalyst

Greece benefits from a uniquely supportive macro backdrop. Fiscal discipline, declining sovereign risk, and above-EU-average GDP growth continue to strengthen investor confidence. The country’s credit profile has been upgraded by major rating agencies, translating into lower funding costs and improved capital market access.

The government’s digitisation agenda is compressing transaction times and reducing friction costs, with property transfer approvals now routinely executed online. This structural shift not only enhances ease of doing business but also acts as a catalyst for higher institutional participation and, ultimately, stronger asset valuations.

Athens as a City of Opportunity

We see a once-in-a-generation opportunity to invest in infrastructure and urban renewal, creating a flywheel effect for capital appreciation. Priority areas include:

1. Urban Fabric - enhanced pedestrian corridors, high-quality public parks, cultural activation, and sustained graffiti removal, creating more livable and investable districts.

   
   

2. Infrastructure & Networks – modernisation of water, power, and stormwater systems to support higher-density living.

   
   

3. Transport & Gateways – upgrades to ports and airports aligning Athens with global tourism and logistics standards.

   
   

4. Convention Capacity – the development of a metropolitan-scale convention centre would elevate Athens into the top tier of global meetings, incentives, conferences, and exhibitions (MICE) destinations.

Crucially, these initiatives represent an opportunity for government leadership, either through direct public investment, public–private partnerships (PPPs), or a combination of both, to accelerate the city’s transformation. Such interventions would not only improve the quality of life for residents but also catalyse private sector participation, unlock further capital growth, and ensure Athens remains competitive among leading European cities.

LIDIS® Strategic Positioning

At LIDIS®, we have deliberately retained assets during the recovery phase, positioning the portfolio to capture the full benefit of this next leg of capital growth. Our vertically integrated platform — encompassing acquisitions, capital deployment, development, construction management, and operations — allows us to control execution risk, preserve margins, and maintain alignment with investor interests. 2025 Priorities

• Scaled Execution Across Portfolio

2025 is a year of delivery. Multiple redevelopment projects are transitioning into full operations, unlocking income and crystallising value. Our focus remains on disciplined execution, maintaining construction cost control, and de-risking schedules to protect investor IRR.

• Institutional-Grade Student Accommodation

We remain one of the first movers in international-standard student accommodation in Greece,

with The Lofts (est. 2021) setting the benchmark. We will expand this platform to achieve economies of scale. Long-term demographic demand, combined with limited competitive supply, creates strong visibility on occupancy and pricing power.

• Hospitality & Serviced Living

Our AI-enabled Smart Hotels and serviced apartments portfolio continues to scale, leveraging technology to enhance guest experience, optimise staffing, and generate predictable recurring income streams — balancing development profits with annuity-style cash flow.

• Sustainability & PropTech Leadership

The Brown-to-Green initiative remains a cornerstone of our strategy. Energy retrofits and AI-driven building management systems are reducing operating expenses and improving ESG scores, future-proofing our portfolio and aligning with global investor mandates.

Outlook & Investor Value Creation

2025 is about disciplined growth. By focusing on sectors with structural tailwinds — student living, smart hospitality, and urban multifamily — and executing through our integrated platform, we target:

Capital Growth – driven by market appreciation and asset-level value creation.

Stable Income – supported by long-term rental demand and diversified tenant base.

Resilient Portfolio – underpinned by sustainability leadership and operational excellence.

Our objective remains clear: to deliver risk-adjusted returns that outperform the market, compounding value for our investors while shaping the next chapter of Athens’ urban renaissance.