High-End Retail Returns to Athens: New Arrivals and Strong Market Activity
Athens, February 19, 2026 – The Greek retail market is experiencing a dynamic return of international brands, marked by intense activity in both high-street locations and organized shopping centers over the last quarter. This resurgence is occurring despite consumer confidence remaining in negative territory and consumption showing restraint.
Fashion, dining, and premium product chains are strategically positioning themselves in the Greek market, investing in flagship stores and expanding their geographical footprint. This movement is particularly noticeable in Athens’ most expensive areas.
Market Dynamics: A Paradoxical Growth
According to the latest data from real estate firm Cushman & Wakefield Proprius, the retail real estate market is seeing increased activity from international operators, even as consumption shows clear signs of deceleration. Retail sales began October with a 4.2% year-on-year increase, but this growth slowed to 0.3% in November, a level estimated to have continued into December. Concurrently, consumer confidence remains negative at -47 points, indicating household caution.
At the same time, the macroeconomic environment shows relative stability. The economy is growing at a rate of 2.3%, unemployment stands at 7.5%, and the retail trade turnover index records an annual increase of 1.7%. This creates a paradox: in a market with restrained consumption, international brands are choosing to strengthen their presence in Athens’ prime locations.
Prime Locations Attract Brands
The numbers in prime locations explain why ‘expensive retail’ is making a comeback. Ermou Street maintains its position as the most expensive commercial street in the country, with prime rents reaching 310 euros per square meter per month. In Voukourestiou Street, which concentrates the luxury segment, rents are around 300 euros per square meter. Thessaloniki’s Tsimiski Street and Glyfada command 160 euros per square meter, while Kifissia sees prime rents of 120 euros and Piraeus 100 euros per square meter per month.
Additionally, yields in Athens’ top locations are around 5.15%, confirming the demand for these properties. In other words, Athens’ high street is supported by two stable pillars: tourism, which consistently boosts foot traffic, and the commercial resilience of central streets, even during periods of restrained domestic consumption.
From COS to Jimmy Choo: New Arrivals
This environment is attracting both luxury and non-luxury international brands. Notable arrivals include the first Jimmy Choo store opened by the Fais Group on Stadiou Street, COS (H&M’s premium brand), and Chloé with its first boutique in City Link. On a different scale, the first Arket store, also from the H&M group, recently inaugurated its flagship store in Kapnikareas.
The latest quarterly data shows a series of new leases in prime locations across Athens and the wider region. On Ermou Street, Parfois leased 480 sq.m., Grand Optical 310 sq.m., and Pharmacie 122 sq.m., confirming continuous demand for presence on the country’s most commercial axis. On Voukourestiou Street, the LVMH group secured a lease for 2,161 sq.m. In Kifissia, Elpedison leased 445 sq.m., and in Glyfada, an additional 250 sq.m. was leased. In organized retail, Pandora opened a new 98 sq.m. store in The Mall Athens. Outside Athens, in Patras, Kamalion leased 148 sq.m. on Riga Feraio Street, indicating activity in regional markets as well.
New Yorker on the Horizon
A significant development was the lease of 3,273 sq.m. on Stadiou Street by New Yorker. The German fast-fashion chain, with a presence in over 40 countries and a network of more than 1,200 stores worldwide, is preparing its entry into the Greek market. It established its subsidiary, “New Yorker Greece Monoprosopi IKE,” last April.
The overall picture indicates broader activity from international chains and large retail groups across various formats, from concept flagship stores to organized shopping centers and retail parks, as well as in regional markets. For example, Plaisio completed preparatory work for its store in Kifissos. Taco Bell established a second presence in The Mall Athens, and Tesla strengthened its footprint with a store on Kifisias Avenue.
In Larissa and Gerakas, KFC has opened, while Kiabi has positioned itself in Smart Park. Sinsay continued its expansion, and Thessaloniki saw the entry of Mohito, from the Polish LPP group. On a larger scale, the Trade Estates retail park, spanning 14,600 sq.m., was completed in Heraklion, with key tenants including IKEA, Sinsay, and Intersport. Furthermore, activity was recorded in island markets, with international brands establishing presence in high-tourism destinations.
Source: Mononews.gr
