Rental Trends, Key Areas, and Market Dynamics

The Greek logistics market has experienced significant rental value fluctuations in recent years. Driven by the rising demand for modern logistics facilities that meet international standards, rental prices have steadily increased. In prime logistics locations like the greater Athens area and Thessaloniki, current rental values range from €4.50 to €6.00 per square meter per month. This upward trend is primarily influenced by the scarcity of available spaces that fulfill the requirements for contemporary logistics operations.

Logistics centers in Greece are predominantly concentrated in specific regions across the country. The greater Athens area remains the epicenter of logistics activities due to its strategic proximity to major ports (Piraeus and Elefsina) and its access to key highways.

The region surrounding Athens International Airport “Eleftherios Venizelos” has emerged as a highly promising logistics market. Over the past two decades, numerous significant logistics centers have been developed in this area, including facilities for prominent companies such as Lidl (Attica Region Distribution Center), Unilog SA (Pharmaceutical Logistics), Market In (Supermarket Chain), Media Strom (Production and Distribution), Apivita, IAPONIKI S.A. (Distribution Center), ELPEN SA, and Pharmathen SA. The strategic location and excellent accessibility of the airport have made this region increasingly attractive for logistics investments.

These developments highlight the growing importance of the area not only for logistics but also as a digital infrastructure hub, making it a prime location for further technological investments.

Markopoulo area in Attica, adjacent to the airport, is particularly noteworthy. It is uniquely positioned due to its proximity to both “Eleftherios Venizelos” Airport and the Port of Lavrio. This dual access to air and sea transport routes significantly enhances the area’s logistics potential. Rental values in Markopoulo range between €5.00 per square meter for older buildings and €5.60-€5.80 per square meter for modern warehouses. However, the lack of large plots of land over 20,000 square meters presents a challenge, limiting the development of extensive, modern logistics parks. This scarcity represents a significant opportunity for investment companies, developers, or logistics firms to develop large, contemporary logistics buildings that meet the growing demand for high-standard facilities.

Additionally, the areas around Thessaloniki, a key gateway to the Balkans, have seen substantial growth in logistics facilities. Other emerging regions include the industrial zones of Patras and Volos, which are becoming increasingly attractive due to recent infrastructural improvements.

The Greek logistics market is undergoing a period of transformation. There is a strong trend towards the modernization of facilities, driven by increased e-commerce demand and the need for more efficient supply chains. Ongoing infrastructure developments, such as railway network expansions and road connectivity improvements, are expected to further boost the logistics sector. Additionally, rising interest from foreign investors is contributing to the growth of logistics parks and the enhancement of existing facilities.

In conclusion, the Greek logistics market presents numerous opportunities alongside certain challenges, particularly regarding supply and demand dynamics. The upward pressure on rental values and the concentration of development in key regions reflect the evolving needs of the industry. As Greece continues to strengthen its position as a logistics hub in Southeast Europe, these trends are likely to shape the future of the market.