At a time when housing rents are flying to the roof, rents for shops in the popular commercial squares of Attica and Thessaloniki seem to have not yet managed to make up for the losses of the pandemic.
However, demand for renting commercial space in popular shopping plazas has by no means abated, with new leases being signed even as conditions and the general economic environment remain difficult.
In particular, in the second quarter of 2022, the rents of the “first line” stores on Ermou Street and in Kolonaki in the center of Athens, on Tsimiski Street in Thessaloniki, in Piraeus, in Kifissia and in Glyfada are moving close to the figures of 2019 but are still slightly lower.
Although in the country’s largest “high street” Ermou, in Glyfada and in Tsimiski the most commercial street of Thessaloniki, shop rent prices are increasing compared to 2021, they still fall short compared to the performance they recorded before the pandemic.
On the other hand, in the popular shopping streets of Kolonaki, Kifissia and Piraeus there were no changes compared to 2021, with rental prices remaining stable.
How are rental prices shaping up
Specifically, the lease of a store in a good location on Ermou Street costs around 275 euros/sq.m./month, up from 260 euros/sq.m. a year ago and 285 euros/sq.m. in 2019.
Accordingly, in Kifissia the monthly cost is 110 euros/sq.m. and in Glyfada at 140 euros/sq.m. from 130 euros/sq.m. a year ago. In Kolonaki, rental prices reach 95 euros/sq.m. same as a year ago.
The course of rent prices for stores in large commercial squares has been recorded in the latest quarterly survey by Proprius, which represents the international real estate services company Cushman & Wakefield in Greece.
As reported, the rapid return to normality and the prospects of increased tourism activity create moderate optimism.
Which chains opened new stores?
Based on survey data, in the second quarter of 2022 the high dynamism recorded in 2021 was maintained in most of the premium markets with several new lease agreements.
These include a new Public store in Gerakas, the new Alexander & Jacob and designer Diane Von Furstenberg stores in Glyfada, the Molton Brown flagship store in Kifissia, the new Cosmos Sport and LC Wakiki stores in Thessaloniki, while Adidas opened a new 844 sq.m. store on Ermou Street.
In addition, in the Peloponnese, a new Funky Budha store opened in Pyrgos and an M&S in Kalamata
At the same time, many new openings took place in Mykonos, as Sephora, Body shop, Louis Vuitton, Lowe, Havaianas etc. acquired stores on the island of the winds.
Finally, new international brands are planning to enter the market, including Poland’s Pepco, LPP/Sinsay and Turkey’s Vakko.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Giannis Antetokounmpo Invests in AI Video Production Platform
The platform, founded in 2021 by Victorien Tixier and Xavier Green, automatically tags and organizes content, allowing teams to speed up distribution to broadcasters, sponsors, and even the athletes themselves
Greece’s Industrial Production Rises 5.8% in December
For the entire year, the average General Index of Industrial Production increased by 5.2% in comparison to the corresponding period in 2023.
Study Shows Athens Traffic Congestion Up
On average, car drivers and their passengers who venture out onto Greater Athens’ roads will spend roughly half an hour in the vehicle to cover a distance of 10 kilometers
Judge Blocks Elon Musk’s Team from Accessing Treasury Payment System
Judge blocks Elon Musk’s team from Treasury access over security risks and potential misuse of federal payment data.
Make Europe Great Again in Madrid
Far-right leaders rally in Madrid to 'Make Europe Great Again
Seismologists Cautiously Optimistic as Aegean Earthquake Activity Evolves
Seismologists grow increasingly optimistic as Aegean earthquake activity shows signs of decline
Earthquakes Continue to Shake the Cyclades, Experts Monitor Declining Activity
Ongoing earthquakes rattle Greece's Cycladic islands, but experts believe activity may be slowing.
Santorini Earthquakes Might Affect Greek Tourism Revenue: NBG Report
The areas directly affected by the tremors account for approximately 4% of both the country's annual tourism revenues and the total annual turnover in the accommodation and food service sectors
Greek Trade Deficit Surges to €34.6 Billion in 2024 Amid Export Decline
Conversely, numbers indicate that exports declined, totaling to 49.90 billion euros in 2024, down from 51.02 billion euros in 2023 marking a 2.2% decrease.
Culture Ministry Takes Action to Protect Santorini’s Antiquities
So far, no damage has been reported to the island’s cultural heritage, with exhibits already safeguarded. Meanwhile, the Greek Ministry of Culture held an emergency meeting on February 6.
![Ηλεκτρική ενέργεια: Αυξήσεις στα τιμολόγια Μαρτίου δείχνει το ράλι του φυσικού αερίου [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/02/shutterstock_679399249-90x90.jpg)
![Αεροδρόμια: Οι πιο δημοφιλείς προορισμοί για τους ξένους τουρίστες [γράφημα]](https://www.ot.gr/wp-content/uploads/2023/05/el.venizelos_aerodromio_680562846-1-90x90.jpg)
![Ηλεκτρική ενέργεια: Αυξήσεις στα τιμολόγια Μαρτίου δείχνει το ράλι του φυσικού αερίου [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/02/shutterstock_679399249-600x400.jpg)
![Επενδύσεις: Πόσο στηρίζουν το ελληνικό ΑΕΠ – Τι δείχνει μελέτη της Alpha Bank [γραφήματα]](https://www.ot.gr/wp-content/uploads/2023/12/ot_artificial_ependyseis-600x352.png)
