The logistics sector in Greece is expected to be among the fastest-growing fields over the rest of this year and in 2021. Market professionals argue that significant underinvestment in the sector, combined with the constant increase in demand for top-standard storage and distribution facilities make this property category one of the safest moves for institutional investors and property development companies.
According to Dika Agapitidou, general manager at Athens Economics Ltd – JLL, “the properties hosting logistics activities have been at the focus of institutional investors’ interest throughout Europe over the last two years. Greece is no exception, recording significant investments and strong competition among buyers.”
The immediate effect of the pandemic was the soaring need for logistics facilities. Consequently, as leading Athens Economics Ltd – JLL official Christos Kakkavas notes, “some 80% of the storage spaces under construction have already been leased in advance, and at leasing rates that applied before the advent of the coronavirus.”
He adds that in the medium term “the resilience of the logistics market is likely to be sustained, as changing consumer behavior leads supply chains to stock up on products.”