The price of office properties in Greece grew 7 percent in 2018, with prices in Athens increasing by 9 percent, ekathimerini.com reports.
The reasons for this include the rise in demand for high-quality space, including by investment funds looking for profitable transactions, as well as the paucity of investment and office development during the decade of the financial crisis. This high demand extends to retail space too.
The response to this demand is expected to materialize in projects mainly in outlying parts of the Athens metropolitan area, such as the development in the eastern suburb of Kantza by Ellaktor group company REDS, and, of course, the huge Lamda Development project at the site of the former Athens airport in Elliniko.
The Greek property market is regarded, for now, a safe investment, in contrast to many European countries, especially France, Germany, Sweden, and the Czech Republic, where steeply rising prices have not seen corresponding rises in rents and experts fear a bubble.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
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