• PROVIDING A STRATEGIC ADVANTAGE Through Technology & Processes
  • EXPERIENCE QUALITY Under One Brand with A Single Point of Control
  • UNITING LOCAL COMMERCIAL Real Estate Experience with Global Execution
  • DELIVERING RESULTS Through Collaboration & Integration

Greece

    Greece

    Prior to the global financial crisis, Greece had managed to achieve a fast-growing economy after the implementation of stabilization policies in recent years. Greece’s leading exports are manufactured goods, food and beverages, petroleum products, cement, chemicals and pharmaceuticals. Greek businesses are adjusting to competition from EU firms and successive governments have had to liberalize their economic and commercial regulations and practices in order to keep Greece competitive in the European economy. Greece is a leading investor in all of her Balkan neighbors with the National Bank of Greece in 2006 acquiring 46% of Turkish Finansbank and 99.44% of Serbia's Vojvođanska Bank. The public sector accounts for about 40% of GDP. High-technology equipment production, especially for telecommunications are fast-growing sectors.

    Greece's main market, Athens, has seen a slowing in absorption recently and the vacancy rate is expected rise throughout 2009. Investment has taken a major hit with no real substantial amount of new activity expected. Competitive rents in Athens will make this year a prime time for negotiations and it is expected that occupiers will be able to strike more friendly terms in the near future.
     

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    Athens