Rents for retail space retreat 1.5% in first half

The price of renting retail space in Greece dropped in the first half of the year, despite a small improvement in consumer confidence and growth in the country’s tourism sector, data from the Bank of Greece showed Monday.

The country’s central bank said there was a 1.5% drop in the cost of rent in January to June, as the retreat picked up from the previous periods. In the second half of last year, the drop was 0.1% against a 0.6% drop in the first half of last year.

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The largest drop was in the northern Greek city of Thessaloniki were rents fell by 2.4% versus a 1.6% drop in Athens. For statement from Bank of Greece click here.