High-ranking real estate agents on Tuesday expressed their concern on the state of the property sector and lack of interest shown by foreign investors. At an event in Athens ahead of Prodexpo 2015 focused on real estate, National Pangaea CEO Aris Karytinos underlined the need to escpe from what he calls “a perfect storm”. He underlined that Pangaea could invest around 2-2.5 billion euros from the Astir Hotel and national Pangaea projects.

On his part, Eurobank Property Services CEO Dimitris Andritsos said that challenges for real estate developers grew over recent months due to the deteriorated climate. He pointed to the evils of taxation for the sector though he said that a rapid agreement with Greece’s international creditors could help turn 2016 into a better year.

Other officials also spoke of the problems for Greece that is outside the international investment map. There is a need for stable tax and urban planning to attract investments.