Giannis Revythis: Talking with one of Greece’s longest-serving real estate brokers
We met one of Greece's most experienced real estate agents, Giannis Revythis, at his new offices in Astir Marina, Vouliagmeni, and discussed with him the Athenian Riviera and the challenging landscape of the real estate market.
- 20/08/2024
With studies in economics, he worked for a period of his professional career as a customs officer. Yiannis Revithis is one of the longest-serving real estate agents in Greece and one of the first to establish real estate agencies, which remain operational to this day.
Describing his transition into the real estate profession, he mentions that it was prompted by his acquaintance with a former director of the Labor Bank. This individual provided the impetus that Mr. Revithis used to become a real estate agent. “My passion for the profession was one of the reasons I was involved in trade unions for 25 years and innovated in the field. Along the way, I encountered many foreign offices and learned about their operations. The key factors that have contributed to my sustained career in the industry for 35 years are professionalism, the experience gained over time, efficiency, and the seriousness with which I have always approached my work.
Yiannis Revithis began his real estate career in 1989 when he established his first office in Piraeus. As a trade unionist, he served as President of the Greek Real Estate Agents’ Federation and the Association of Real Estate Agents of Athens and Attica.
At the moment, he operates eight offices, the latest of which is the one he established in 2024 at Astir Marina in Vouliagmeni. A few years ago, he also had another office in the southern suburbs, at the intersection of Grigoriou Lambraki and Angelou Metaxa streets in Glyfada, which, as Mr. Revithis explains, due to the economic conditions of the period and the decade-long crisis that hit Greece, suspended its operation. Today, Revithis Real Estate is present in areas such as Mykonos, Arachova, Drosia, Chios, and the center of Athens.
The decision to establish an office at Astir Marina, Vouliagmeni
The landscape in the real estate market has changed significantly during the 35 years that he has been active in it. “Marketing and communication channels have changed drastically, as well as public relations, while customer demands have also changed in turn.”
Mr. Revithis refers to his company’s decision to create facilities at the Vouliagmeni Marina, stating that “the southern suburbs of Athens have always been our choice after the closure of the Glyfada office when the market started moving again after the crisis. This was followed by the period of the pandemic, which temporarily halted our plans. Subsequently, we couldn’t find a suitable space to create a product that would meet what we wanted to offer in the south, given the strong competition in the area, which led us to the decision to present something unique. The reason we entered Astir Marina in Vouliagmeni is that, in addition to serving the southern suburbs, we also aim to cater to the islands. The Athenian Riviera, the Marina of Vouliagmeni, and Astir (Four Seasons Astir Palace hotel) attract notable visitors to the area—visitors who are eager to hear about available properties on the islands, whether for sale or for lease.”
According to Mr. Revithis, the market will continue to experience strong upward trends in the near future. “All construction projects underway at this time are of high quality, with architecture that stands out for its aesthetics and functionality. Our properties have nothing to envy from similar high-quality properties in Europe or America. Foreign visitors find what they are looking for, with direct access to the sea combined with high-quality construction.”
The majority of clients who turn to Revithis Real Estate come from foreign countries, emphasizes Yiannis Revithis. “They mainly seek penthouses with sea views, but also vacation homes in the Cyclades and the Argosaronic Islands.”
The challenging landscape in the real estate market of Mykonos
Regarding the characteristics of Mykonos, where Revithis Real Estate has also been active for several years, it is noted that the island’s market is cyclical, as it is currently at a critical juncture, awaiting several developments.
“Many properties have been built and renovated, and numerous new properties have entered the market. As a result, supply now exceeds demand. This is why many buyers are taking a wait-and-see approach, looking for a property at a better price. However, I believe that the lack of available land for new constructions, the suspension of building permits, which prevents land acquisition and construction permits issuance, as well as the high construction costs, are factors that are currently keeping prices in Mykonos at very high levels,” he adds.