Logistics industry to flourish
New logistics properties with a total area of 280,000 square meters will be placed on the local market by the end of 2024, continuing the “rally” of new construction in recent years.
According to data from a related industry analysis by Cerved Property Services, approximately 180,000 sq.m. will be added by the middle of this year, while another 100,000 sq.m. is expected to be introduced by the end of 2024.
These are expected to be medium- and large-scale projects, which will further strengthen Greece’s role as a transit hub, while also improving e-commerce services.
According to the research carried out by Cerved among 200 professionals (such as surveyors and real estate brokers) in its network of partners, one in every two expects consistently high demand for renting storage spaces throughout 2023.
In fact, an additional 26% expect a further strengthening of demand within this year.
Real estate executives also point out that any large new logistics facilities are bound to secure tenants several months ahead of their opening, pushing values and rents higher.
