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Thessaloniki\u2018s Tsimiski Street has now overtaken Glyfada as the country\u2019s second most expensive retail location. In the second quarter of 2024, rents on Tsimiski rose to \u20ac160 per sqm, compared to \u20ac145 per sqm in 2023. Meanwhile, Glyfada saw a more moderate increase, with rents rising to \u20ac155 per sqm at the end of 2024, up from \u20ac150 per sqm in 2023 and \u20ac135 per sqm in 2022.<\/p>\n
Kolonaki also saw a rise in commercial rents, reaching \u20ac115 per sqm from \u20ac105 per sqm in 2023. In contrast, Kifissia maintained stable rental rates, remaining at \u20ac110 per sqm for both 2023 and 2024. Piraeus continued its upward trajectory, with prime rents increasing to \u20ac100 per sqm, up from \u20ac95 per sqm in 2023 and \u20ac85 per sqm in 2022.<\/p>\n
Outside of Athens and Thessaloniki, Patras recorded a notable increase in commercial rents, reaching \u20ac90 per sqm at the end of 2024, compared to \u20ac75 per sqm in 2023. In Heraklion, Crete, retail rents climbed to \u20ac95 per sqm.<\/p>\n
Retail investment in Greece\u2018s real estate sector remained active in the final quarter of 2024, with total transactions reaching \u20ac55 million. Among the most significant deals was the acquisition of Village Shopping and More in Renti for \u20ac14.1 million by Premia Properties, the Antetokounmpo family, and private investors. Additionally, Thessaloniki\u2019s prime shopping streets saw transactions amounting to \u20ac8.5 million.<\/p>\n
The continued demand for high-street retail space reflects the resilience of Greece\u2019s commercial real estate market, with prime locations experiencing steady or rising rental values amid ongoing investment activity.<\/p>\n
(Source: CNN Greece)<\/p>\n<\/p><\/div>\n<\/p><\/div>\n