Greece: Real Estate Market Snapshot Q2 2019

02 Apr/19

3. Delfi Property Price Index

The prime office and retail markets experienced a significant increase in rents, particularly in the centre of Athens. The Delfi Prime Developed property price index measures the average price per square meter of developed properties for each asset type:

3.1 Retail

The cost per m2 per month for high street prime retail in Ermou Street is estimated at €245, for prime high street retail in Kolonaki at €90, for Kifisia at €115 and for Glyfada at €120.

Source: Delfi Partners & Co 

3.2 Offices                                                                   

The average rental price per m2 per month    for offices in the broader Central Business District is at €12.0, Kifisias Avenue, at €16.0, Sygrou Avenue, at €11.5, Mesogeion Avenue, at €11.0 and Syntagma at €18.

Source: Delfi Partners & Co 

3.3. Industrial

The average rental price per m2 per month for retail units located at Aspropirgos is at €4, for Agios Stefanos at €3.6, for Koropi at €3 and for Elefsina at €4.

Source: Delfi Partners & Co 

4. Delfi Property Yield Index

Yields in Greece have recorded a steady increase following periods of high economic and political instability. Yields for prime commercial properties have compressed significantly in the past two years driven by improving macro-economic fundamentals as well as intense competition between local REICs

Source: Delfi Partners & Co