The demand for small retail store spaces in central Athens has been increasing over the last 12 months, reflecting a shift in retail practices, as more and more tourists arrive in Greece, and the appeal of online shopping becomes larger, according to a survey by the Arbitrage Real Estate consultancy firm.
The demand reported in this period almost exclusively concerns prime properties in the most busy and popular spots in Athens, as opposed to the markets in secondary areas which are slowly declining and not showing signs of improvement.
The analysis by the Arbitrage shows that the rise in e-commerce combined with the ever-growing use of social media in promotion of retail products has resulted in a decline in demand for large retail stores and spaces. This has led to larger stores and businesses turning more regularly to online marketing for publicity, and wanting smaller-spaced land near the busier and more tourist-filled areas of Athens.