The Bank of Greece has earlier today unveiled its Commercial property indices report for the first half of 2021.
According to the provisional data presented by the Bank, in the first half of 2021 nominal prime office prices for the entire country increased by 1.4%, compared with the second half of 2020. Over the same period, nominal prime office prices increased by 3.2% in the greater Athens area and 0.9% in Thessaloniki, while decreased by 0.6% in the rest of Greece.
According to revised data, in 2020 the average annual growth rate of nominal prime office prices stood at 1.2% for the entire country. The corresponding average growth rates were 2.3% in Athens, -0.2% in Thessaloniki and 0.2% in the rest of Greece.
In the first half of 2021, office rents for the entire country increased by 2.7% compared with the second half of 2020 (provisional data). According to revised data, office rents declined by 1.4% in the first half of 2020 and increased by 1.5% in the second half of 2020, compared with the previous half-year. In 2020, office rents decreased at an average annual rate of 0.8%.
With regards to commercial properties and according to the provisional data, in the first half of 2021 nominal prime retail prices for the entire country increased by
1.1% compared with the second half of 2020. Over the same period, nominal prime
retail prices increased by 0.7% in the wider Athens area, 0.3% in Thessaloniki
and 2.1% in the rest of Greece, compared with the previous half-year.
According
to revised data, in 2020 the average annual growth rate of nominal prime retail
prices stood at 2.5% for the entire country, whereas the corresponding average
growth rates were 2.2% in Athens, 5.9% in Thessaloniki and 2.0% in the rest of
Greece.
In the first half of 2021, retail
rents for the entire country increased by 0.9% compared with the second
half of 2020 (provisional data). According to revised data, retail rents
decreased by 0.9% in the first half of 2020 and increased by 0.5% in the second
half of 2020, compared with the previous half-year. In 2020, retail rents decreased at an average annual rate of 0.6%.
