Athens, November 26 – Ermou Street, Athens’ most renowned shopping destination, has been ranked as the 15th most expensive shopping thoroughfare globally, according to the latest report from Cushman & Wakefield. The real estate services firm reported a 5% increase in lease rates along Ermou in 2025, attributed to a bolstered presence of international brands and escalating demand.
Ermou’s Global Standing and Rental Dynamics
The 35th edition of Cushman & Wakefield’s “Main Streets Across the World” report highlighted significant shifts in the international retail landscape, detailing fluctuations in rental prices that define the commercial value of prime retail locations worldwide. Ermou’s ascent to the 15th position underscores Athens’ growing prominence in the global retail sector.
The survey firm noted that the 5% surge in rents along Ermou in 2025 was a direct consequence of a stronger influx of international brands establishing their presence and a general increase in consumer demand within the area.
Greek Retail Market Performance
Cushman & Wakefield’s report on the Greek retail market, released earlier, indicated an improvement in the Economic Climate Index in Greece during the third quarter of 2025. This recovery effectively offset losses incurred in the previous quarter, despite a slight decline observed in September of the same year.
However, consumer confidence in Greece remained at significantly negative levels, considerably below the Eurozone average. Despite this, there was a discernible easing in pessimism regarding household finances, suggesting a potential shift in consumer sentiment.
According to the Athens-based Foundation for Economic & Industrial Research (IOBE), the September decline was primarily due to weaker expectations across most business sectors. Conversely, the retail sector exhibited renewed optimism following the summer months, signaling a potential rebound.
The local retail market maintained a balanced state in the third quarter of 2025. This stability was supported by limited new supply of retail spaces and consistent demand, largely propelled by a robust tourism sector and an overall improvement in consumer disposition.
Tourism and Sectoral Growth
The Greek Tourism Confederation’s (SETE) research institute (INSETE) reported a significant increase in international arrivals. In September 2025, international arrivals saw a 5.6% year-on-year rise. Specifically, Athens and Thessaloniki airports recorded impressive increases of 9.5% and 10% respectively, highlighting the pivotal role of tourism in bolstering the economy and retail sector.
Activity within the leasing sector also remained vigorous, with strong performance observed across fashion, food and beverage, and entertainment sectors. This sustained interest in leasing underscores the attractiveness of the Greek market for various businesses, particularly in prime locations like Ermou Street.
Future Outlook
The sustained growth in lease rates and the strong performance of the retail sector, particularly in key areas like Ermou, suggest a positive trajectory for Athens’ commercial landscape. The continuous influx of international brands and the steady demand, supported by a recovering tourism sector, are expected to further solidify Ermou’s position as a premier shopping destination.
The report’s findings provide valuable insights for investors and retailers looking to enter or expand within the Greek market, emphasizing the resilience and potential for growth in Athens’ high-street retail segment.
Source: https://www.tovima.com/finance/athens-high-street-ermou-15th-most-expensive-in-the-world/
