BUSINESS

Retail chains snap up empty stores, bolstering rental rates

NIKOS ROUSSANOGLOU

TAGS: Property

Store rental rates in a number of popular shopping districts in Athens and Thessaloniki posted their first increase since 2008 last year, as retail chains rushed to make the most of the huge stock of empty stores to obtain high-profile locations.

Rental rates rose on Ermou Street in central Athens, in Kifissia (pictured), northern Athens, and in Glyfada, southern Attica, as well as on Tsimiski Street in Thessaloniki.

This is according to figures compiled by the Proprius property service company, which represents Cushman & Wakefield in Greece.

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