Commercial property prices advance in fourth quarter

Commercial property prices were up in the fourth quarter of 2020 compared with the same period in 2019, according to a report by the property ads website Spitogatos on Tuesday.

Leasing rates for offices in Athens, Piraeus, Thessaloniki, Iraklio, Larissa and Patra were up in the October-December period, with the southern suburbs of Athens (+9.5%) and Thessaloniki (+8.4%) recording the biggest increases.

The highest average leasing price per square meter is in the northern suburbs of Athens (10.9 euros) and the city center (€10), while the lowest is in Larissa (€5.5), in central Greece.

Office sales prices were also up in the fourth quarter, with the southern suburbs of Athens recording the highest average price per square meter (€2,030, up 6.3% from 2019), followed by the northern suburbs (€2,007, up 11.9%).

In Larissa, office sale prices fell 4%, while...