Ermou Street regains its spot on big international retailers' radars

Retail spaces on Ermou, Athens's main shopping street, are being purchased at prices unseen since the outbreak of the financial crisis, as the rebound of property prices in the area (which started in 2016) and the increasing tourism flow to the capital stir memories of better times.

Besides the retail spaces that NBG Pangaea (at 66 Ermou) and Trastor (16-18 Ermou) have acquired in the last few weeks, Kathimerini understands that another store, at 21 Ermou, was recently sold at bank auction, with the winning bid coming to almost 620,000 euros. This was a remarkable 77 percent up on the minimum bid, designated at 350,000 euros.

All this investment activity, in spite of the increase in prices, is due to a series of factors, starting with Ermou's growing popularity, which appears to be even greater than before the crisis, mainly thanks to the growth in tourism arrivals in...