Greece’s Commercial Real Estate Market Sees Tourism Properties Take The Lead As Investment Surges In Retail Office And Warehouse Assets

Published on September 24, 2025

Greece’s commercial real estate market has experienced a notable shift, with tourism properties taking the lead as the most attractive investment option. This surge in interest is driven by the country’s booming tourism sector, which continues to draw millions of international visitors each year. Alongside tourism, there has been a marked increase in investments in retail, office, and warehouse assets, reflecting a broader confidence in Greece’s economic recovery and long-term growth potential in the real estate market.

Tourism Properties Lead Greece’s Real Estate Investment Boom

Tourism-focused properties are rapidly becoming the prime target of investors in Greece, signaling an era of expansion for the country’s commercial real estate sector. Recent research among certified appraisers and property consultants has revealed a consistently optimistic outlook, with the tourism market standing out as the dominant driver of investment activity. This trend not only reflects investor confidence in tourism’s resilience but also highlights the sector’s role as one of the strongest pillars of the Greek economy.

Rising Demand for Tourism Assets

At present, more than one-third of investors are directing their attention to tourism-related assets. Specifically, 36 percent of investors have placed tourism properties at the center of their portfolios. Projections indicate that this figure could climb to 45 percent in the near future, further cementing tourism’s position as the leading category in Greece’s commercial property market.

This surge is being fueled by Greece’s reputation as one of Europe’s most attractive travel destinations, with steadily increasing international arrivals and growing infrastructure supporting tourism-related ventures. From hotels and resorts to mixed-use developments in popular destinations, tourism properties are seen as long-term, high-value assets.

Shops and Retail Properties in the Spotlight

While tourism remains the frontrunner, retail properties hold the second-largest share of investor interest. Currently, around 30 percent of buyers are focused on shops, particularly those located in central commercial areas where foot traffic and consumer demand remain high. Athens stands out as a key hub, with 52 percent of demand directed toward the city center. Southern suburbs follow, driven by the appeal of high-street shopping areas and newly developed retail zones.

Large shopping malls also play a significant role in attracting investment. Investors are increasingly drawn to established retail centers, recognizing their ability to sustain consistent consumer activity. Thessaloniki displays a similar pattern, with 60 percent of retail investment centered in the city core and the remainder distributed across the eastern suburbs and commercial malls.

Offices With Energy Efficiency and Accessibility

The office property market in Greece is also experiencing steady demand, though it trails behind tourism and retail sectors. Approximately 21 percent of investors are currently focused on modern office spaces, especially those with energy-efficient features and strong transport connectivity.

Athens continues to dominate this category, with high interest in its central districts, northern suburbs, and southern coastal areas. Thessaloniki follows closely, with investor attention concentrated in the eastern zones. For many investors, location is the leading determinant of office value, accounting for nearly half of decision-making. Other key factors include sustainability features and accessibility, each representing about one-fifth of investment priorities.

Expectations for the office sector remain stable to positive, with nearly half of experts predicting price increases and an almost equal percentage expecting stabilization. This outlook reflects confidence in long-term demand, particularly for high-quality, modern office developments.

Growing Interest in Warehousing and Logistics

Warehousing and logistics spaces are also seeing heightened investor activity, accounting for about 13 percent of total interest. Western Attica has emerged as the most prominent hub for storage facilities, absorbing more than half of the demand in this sector. The strategic location of Western Attica, with its proximity to ports, highways, and industrial corridors, reinforces its appeal.

The Athens–Thessaloniki National Road has also become an important axis for logistics investment. In Thessaloniki, the western districts dominate, capturing an overwhelming 88 percent of warehouse demand. For this category, investors emphasize location and modern infrastructure as the main value drivers. Around 60 percent of experts expect warehouse property prices to remain stable, reflecting a market that is consolidating but still holds strong potential.

Broader Motivations Beyond Investment

Interestingly, not all property transactions are driven purely by investment motives. Around 19 percent of buyers are purchasing properties for personal use, underscoring the sector’s wider appeal. This indicates that the Greek property market serves both professional investors seeking returns and individuals looking for long-term ownership in a growing market.

Future Outlook for Greek Real Estate

Looking ahead, experts believe tourism properties will continue to dominate the landscape over the next two years, with projections estimating demand at 45 percent. Shops are expected to secure 21 percent of the market, warehouses 19 percent, and offices 15 percent. This balance highlights a diversified property market where tourism remains the flagship sector but other categories also contribute meaningfully to growth.

The alignment of strong investor interest with Greece’s broader economic drivers places the country in a favorable position. Tourism continues to attract millions of visitors annually, and the government’s commitment to infrastructure upgrades and sustainable development enhances investor confidence. At the same time, demand for retail, office, and warehouse assets reflects urban expansion, rising consumer spending, and modernization of logistics networks.

A Market Poised for Sustained Expansion

Overall, Greece’s commercial real estate market is set for a period of sustained growth, led by tourism-focused projects and supported by growing interest in sustainable and energy-efficient assets. The combination of international investor confidence, domestic economic reliance on tourism, and an expanding urban property market provides strong momentum.

Greece’s commercial real estate market is seeing tourism properties lead the way in investment, driven by the country’s strong tourism growth, alongside a surge in retail, office, and warehouse asset investments. This shift reflects growing confidence in Greece’s economic recovery and real estate potential.

As investment spreads across tourism, retail, offices, and logistics, Greece’s real estate sector demonstrates both resilience and adaptability. With tourism at the forefront, the coming years are expected to bring new opportunities, dynamic projects, and long-term returns for investors, ensuring the property market continues to play a vital role in Greece’s economic recovery and expansion.