The property market in Greece is booming as a result of the country’s EMU membership, changes in the law and improvements in infrastructure, due to the fact that Athens will host the 2004 Olympics. Foreign investors are flocking to the capital, where many properties are currently attractively priced. Recently Pradera European Retail Fund acquired Athens’ Village Entertainment Park for €61.4m (DM120m), whereas Trizec-Hahn and Village Cinemas took over the Rendis cinema complex, which is the biggest in the country. As a result of the scarcity of good quality office space, rents have gone up steadily since 1997 and currently lie around €41 (DM80) per m2 a month in the city centre and €22 (DM43) on the outskirts.
Frankfurter Allgemeine Zeitung, 22 June 2001 p4
