Commercial real estate: Rents and sales prices increased in the first half of 2021

0

Commercial real estate prices (high standard offices) increased by 1.4% in the first half of the year, while their rents in the same period increased by 2.7%, according to Bank of Greece.

Analytically, based on the available provisional data, in the first half of 2021 the nominal prices of high standard office space increased by 1.4% for the whole country compared to the second half of 2020.

During the same period, the nominal prices of high standard office space increased by 3.2% in the greater Athens area and 0.9% in Thessaloniki, while they decreased by 0.6% in the rest of Greece.

Based on the revised data, in 2020 the average annual growth rate of the nominal prices of high standard offices for the whole country was 1.2%.

The corresponding annual rate of change for Athens was 2.3%, for Thessaloniki -0.2% and for the rest of Greece 0.2%.

The first half of 2021, Office rents for the country as a whole increased by 2.7% compared to the second half of 2020 (provisional data).

Based on the revised data, in the first half of 2020, office rents decreased by 1.4%, while in the second half of 2020 they increased by 1.5% compared to the previous half. For the whole of 2020, office rents decreased at an average annual rate of 0.8%.

The nominal prices of high standard stores for the country as a whole increased by 1.1% compared to the second half of 2020.
During the same period, the nominal prices of high standard stores increased by 0.7% in the greater Athens area, 0.3% in Thessaloniki and 2.1% in the rest of Greece, compared to the previous six months.

  • Based on the revised data, in 2020 the average annual growth rate of the nominal prices of high quality stores was 2.5% for the whole country, while the corresponding price growth rates were 2.2% for Athens, 5.9 % for Thessaloniki and 2.0% for the rest of Greece.

During the first half of 2021, the rents of the stores for the whole country increased by 0.9% compared to the second half of 2020 (provisional data).

Based on the revised data, in the first half of 2020, shop rents decreased by 0.9%, while in the second half of 2020, they increased by 0.5% compared to the previous half. For the whole of 2020, the rents of the stores decreased with an average annual rate of change of 0.6%.

Leave A Reply

Your email address will not be published.