Now Available: Greece Real Estate Report Q1 2015

From: Fast Market Research, Inc.
Published: Fri Nov 28 2014

With the Greek economy back on track for growth, we expect an improvement of the wider macroeconomic situation to also support a recovery of the commercial real estate market. Although there are several positive indicators especially for the office and retail real estate segments, the economic recovery remains highly fragile and uncertainty continues to dominate the market atmosphere. We therefore expect rental rates to remain largely stable with slight positive trends in the abovementioned two sectors, while the demand for industrial real estate space will remain subdued as the Greek industry continues to struggle.

The commercial real estate sector closely mirrors the general economic trends of the country and as such has suffered significantly in the Greek economic crisis. Hopes are raised as 2014 is expected to be the first year since the outset of the crisis in which the Greek economy is growing - although by a very modest 0.2%. As we expect this to have been the starting point of a steady economic recovery, we also expect the commercial real estate market to show signs of slow but steady growth in 2015.

Full Report Details at

Crucial for both the general economy and the commercial real estate market in particular is for governmental policies to be effective in improving the overall market stability and investor sentiments. In this respect, the past 18 months have seen a distinct uptick in real estate investments giving hope for 2015. This is paired with rising retail turnovers and steadily improving tourist levels, invigorating the retail real estate segment. These factors are likely to lead to a slight upturn in demand both for office and retail real estate space in Greece, although the degree of such growth will be highly dependent on whether the government is able to translate positive economic indicators into confidence from investors and consumers. In contrast, however, despite positive economic indicators in some parts, the Greek industry continues to...

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