The Greek economic scene has also been transformed thanks to the advantages derived from euro area membership, including the stable macroeconomic environment and low interest rates. The Olympic Games hosted in Athens in 2004 contributed, in turn, to creating a favourable environment for growth. However, liberalisation and privatisations, as well as a reinvigorated private entrepreneurial spirit, have been the principal growth-driving forces.
Where CRE statistics from official sources are available, they are not derived using a harmonised methodology. There is similarly patchy coverage in statistics for rent indices and rent yields, vacancy rates, transaction numbers and values, and to a lesser extent, construction starts and construction completions.