The annual rate of change in nominal prime office prices fell 0.2 pct in 2015 for Greece as a whole, significantly weaker compared with a 3.4 pct drop in 2014 and a 9.9 pct decline in 2013, the Bank of Greece said on Monday.
In a report, the central bank said that the corresponding average annual rates of decline were 0.5 pct for Athens and 5.7 pct for Thessaloniki, whereas an increase of 1.2 pct was recorded in the rest of Greece.
In 2015, office rents for the country as a whole decreased by 1.1 pct (provisional data) οn average in nominal terms. The corresponding average annual rates of decline are estimated at 2.1 pct in the greater Athens area and 1.0 pct in Thessaloniki, whereas a marginal increase of 0.1 pct was recorded in the rest of Greece.
In 2015, the average annual rate of decline in prime retail prices for the country as a whole was 3.5 pct (provisional data) in nominal terms, which was accelerated compared with the corresponding rate in 2014 (-1.8 pct), but considerably slower compared with the rate in 2013 (-8.8 pct). The corresponding average annual rates of decline are estimated at 2.6 pct for the greater Athens area, 2.2 pct for Thessaloniki and 5.1 pct for the rest of Greece.
For 2015 as a whole, retail rents for the entire country declined on average by 6.3 pct (provisional data) in nominal terms. The respective rates of decline are estimated at 6.3 pct for the greater Athens area, 3.2 pct for Thessaloniki and 7.3 pct for the rest of Greece.
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