x

Economy

Bank of Greece: Prime Office Prices Off 0.2% in H2 2020

ATHENS — The rate of change for prime office prices for the entire country stood at -0.2 pct and for office rents at 0.8 pct in the second half of 2020 compared with the first half of 2020, the Bank of Greece said in a report released on Monday.

The central bank said that in the second half of 2020 the rate of change for prime retail prices for the entire country stood at 0.0 pct and for retail rents at 0.6 pct, compared with the first half of 2020.

According to provisional data, in 2020 nominal prime office prices for the entire country increased on average by 1.2 pct relative to 2019, against an increase of 3.9 pct in 2019. Broken down by region, in 2020 nominal prime office prices increased on average by 2.2 pct in Athens, decreased by 0.3 pct in Thessaloniki and increased by 0.2 pct in the rest of Greece. In the second half of 2020, nominal prime office prices decreased by 0.2 pct at country level compared with the first half of 2020 (provisional data). In the second half of 2019 as well as the first half of 2020 prime office prices increased by 1.6 pct and 0.5 pct, respectively, compared with the previous half-years (revised data). According to regional data, in the second half of 2020 nominal prime office prices increased by 0.6 pct in the greater Athens area, while they decreased by 0.9 pct in Thessaloniki and by 1.1 pct in the rest of Greece, compared with the first half of 2020. In 2020, nominal office rents at country level decreased οn average by 1.1 pct (provisional data). Broken down by region, office rents decreased on average by 2.4 pct in Athens, increased by 1.3 pct in Thessaloniki and decreased by 0.1 pct in the rest of Greece. In the second half of 2020, office rents for the entire country increased by 0.8 pct compared with the first half of 2020 (provisional data). The respective rates of change were -0.3 pct in the second half of 2019 and -1.3 pct in the first half of 2020 (revised data).

According to provisional data, in 2020 nominal prime retail prices increased on average by 2.1 pct relative to 2019 at a country level, against an increase of 7.0 pct in 2019. Broken down by region, in 2020, nominal prime retail prices increased, on average, by 1.6 pct in Athens, 5.4 pct in Thessaloniki and 2.0 pct in the rest of Greece.

In the second half of 2020, nominal prime retail prices remained unchanged compared with the previous half-year at a country level (provisional data). The corresponding rates of change were 2.1 pct in the second half of 2019 and 1.0 pct in the first half of 2020 (revised data). According to regional data, in the second half of 2020, nominal prime retail prices increased by 0.2 pct in the greater Athens area, decreased by 0.7 pct in Thessaloniki and increased by 0.1 pct in the rest of Greece, compared with the first half of 2020.

In 2020, retail rents for the entire country decreased on average by 0.6 pct in nominal terms (provisional data). Broken down by region, the corresponding average annual rates of decrease were 1.5 pct in Athens and 0.8 pct in Thessaloniki, whilst in the rest of Greece a growth of 0.3 pct was recorded.

In the second half of 2020, retail rents for the entire country increased by 0.6 pct compared with the first half of 2020 (provisional data). The respective rates of decrease were 0.3 pct in the second half of 2019 and 0.9 pct in the first half of 2020 (revised data).

RELATED

ATHENS - Greek public debt totaled 357,295 billion euros at the end of the third quarter of 2021, from 337,666 billion in the corresponding period in 2020, Hellenic Statistical Authority said on Friday.

Top Stories

Church

BOSTON – The Holy Synod of the Patriarchate of Alexandria in its recent meeting dealt with the ecclesiastical coup perpetrated by the Patriarchate of Moscow in its canonical jurisdiction, calling it an “immoral invasion and intrusion.

Church

NEW YORK - Some 21 years after it was destroyed in the September 11, 2001 terrorist attacks in the United States that brought down the Twin Towers in New York City, the new St Nicholas Greek Orthodox Church rising in its place is among the most eagerly awaited architectural openings of 2022.

Events

STATEN ISLAND, NY – For yet another year, the community of Holy Trinity-St Nicholas in Staten Island honored couples celebrating 50+ years of marriage with a modest ceremony held at the church immediately following the Divine Liturgy on January 16.

Video

Greece: Heavy Snowfall is Expected on Monday, Schools to Remain Closed in Attica (Vid)

ATHENS - Schools of all levels of education will remain closed throughout Attica on Monday and Tuesday, January 24-25, due to extreme weather conditions.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.