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Greece Real Estate Report 2016

Greece Real Estate Report 2016

BMI View: The Greek economy has suffered greatly from the sovereign debt crisis in 2015. Investor confidence has been damaged, while the high risks of investing have seen demand dwindle and rental rates fall. Although rates could rise in the long term, the industry, and the Greek economy in general, continues to be plagued by uncertainty.

The left-wing Syriza-led government was initially opposed to austerity measures, but eventually agreed to EU bailout conditions that imposed harsh economic reforms on the country. These seek to streamline the pension system and boost tax revenues, particularly from VAT. The agreement led to the resignation of the prime minister, Alex Tsipras, and a general election that resulted in a second Syriza-led coalition. The volatile political and fiscal situation has resulted in negative business sentiment across the commercial real estate sector. Falling rental rates and subdued demand are a common theme that we expect to continue through 2016. However, the buoyant tourism market is providing some respite to the retail real estate subsector in particular.


BMI Industry View
SWOT
Political
Economic
Operational Risk
Industry Forecast
Office Forecast
Table: Office Rental Rates, 2010-2015 (per sq m per month)
Table: Office Yields, 2010-2019 (%)
Retail Forecast
Table: Retail Rental Rates, 2010-2015 (per sq m per month)
Table: Retail Yields, 2010-2019 (%)
Industrial Forecast
Table: Industrial Rental Rates, 2010-2015 (per sq m per month)
Table: Industrial Yields, 2010-2019 (%)
Residential/NonResidential Building - Outlook And Overview
Table: Residential and Non-Residential Building Industry Data (Greece 2013-2018)
Table: Residential and Non-Residential Building Industry Data (Greece 2019-2024)
Table: Greece Key Projects: Construction And Social Infrastructure
Macroeconomic Forecasts
Economic Analysis
Table: Economic Activity (Greece 2010-2019)
Industry Risk/Reward Index
Greece - Risk/Reward Index
Table: Greece Real Estate Risk/Reward Index
Rewards
Risks
Market Overview
Competitive Landscape
Demographic Data
Demographic Forecast
Table: Population Headline Indicators (Greece 1990-2025)
Table: Key Population Ratios (Greece 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Greece 1990-2025)
Table: Population By Age Group (Greece 1990-2025)
Table: Population By Age Group % (Greece 1990-2025)
Methodology
Industry Forecast Methodology
Sources
Risk/Reward Index Methodology
Table: Real Estate Risk/Reward Index Indicators
Table: Weighting Of Indicators

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