Greece Real Estate Report 2015 - New Report Available

With the Greek economy making a slight turnaround , we expect an improvement of the wider macroeconomic situation to also support a recovery of the commercial real estate market in the long term . However, in the short term, rental rates are expected to decline almost across the board, with the only exception in the Thessaloniki retail market with stability expected into 2016. Although there are several positive indicators, the economic recovery remains highly fragile and uncertainty continues to dominate the market atmosphere.

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 over the past six years. Over the past two years indicators have shown the national economy to be improving ever so slightly, and with the recent acceptance of economic bailout measures, the country should stabilise over the next five years. As we expect this to be a key point for steady economic recovery, we also expect the commercial real estate market to show signs of slow but steady growth in 2015.

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Athens being a tourist centre has been able to rely to some degree on the strength of this industry filtering benefits through to the retail market in particular. However, the office market is suffering with large vacancy rates, and industrial focus being drawn to the nearby Piraeus. Piraeus has become the trade focus nationally, with shipping freight the dominant form of import and export trade flow. The growth of Piraeus Port as the national trade hub has drawn focus from Thessaloniki somewhat, with a reduction in tonnage throughput year on year. In 2014, Piraeus achieved approximately three times as much % y-o-y growth as Thessaloniki in terms of overall throughput.

The Greece Real Estate Report features BMI Research's market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.

BMI's Greece Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Greece.

Key Benefits

* Benchmark BMI's independent real estate industry forecasts for Greece to test other views - a key input for successful budgeting and strategic business planning in the Greek real estate market.
* Target business opportunities and risks in Greece

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