According to Bloomberg’s research, increased the income from investments in office properties in the luxury segment in Athens. Income from investments today is 8% per annum. Income from investments in trade area also increased – it is amount 8,5%. Experts assert that the profits from the luxury real estate is inversely proportional to the value in the market. Against the background of the economic crisis and low demand, prices for commercial real estate became much lower, attracting investors.
Due to the economic crisis, a lot of companies were closed. It was the reason for the increase of vacant luxury retail areas by 16% year-on-year. Moreover, rental rates have fallen by more than 11% and the price of rent per square meter luxury retail area fell by 130 euro.
Bloomberg research shows that in 2013, Greek GDP could fall by 3,1% and in 2014 - by 0,3%. Besides this experts forecast that job cuts will continue, despite the high unemployment rate in the euro area – 25,1%.