Current trends and outlook
The commercial property market in Greece is showing signs of recovery after a long period of recession. Demand for retail space is increasing, fuelled by the rise in tourism, growth in domestic consumption and the entry of new brands into the Greek market.
Factors driving the recovery
Tourism: The increase in tourism directly benefits the retail market as tourists shop in and outside tourist areas.
Increased domestic consumption: The Greek economy is showing signs of recovery, with GDP rising and unemployment falling. The improving economic situation is leading to an increase in domestic consumption, benefiting commercial real estate.
Entry of new brands: The entry of new brands is creating competition and forcing the market to upgrade.
Areas of high demand
City centres: The central markets of major cities such as Athens, Thessaloniki and Patras are in high demand for commercial property. High footfall and the presence of popular brands make these areas particularly attractive.
Tourist areas: Popular tourist resorts such as Mykonos, Santorini and Rhodes show an increased demand for retail space aimed at tourists.
Shopping centres: Modern malls offering a variety of shopping and entertainment options are attracting large numbers of consumers.
The outlook
The commercial property market in Greece is expected to continue to recover in the coming years. The growth in tourism, the improving economic situation and the entry of new brands will support the demand for retail space.
However, there are also some challenges, such as rising rents and construction costs.
In conclusion, the commercial property market in Greece offers interesting prospects for investors and companies. Demand for retail space is expected to increase, while prices and rents are expected to remain stable or increase.
View our commercial properties and exceptional residential properties for sale…
