Athens Τops Office Space Availability

Athens Τops Office Space Availability

Athens has the highest rate of empty office space in Europe, as daily Kathimerini reports, quoting data for the year’s first quarter presented by BNP Paribas Real Estate.

Its survey on the course of the European office market showed that the availability rate in the Greek capital soared to 20% in the January-March period from 15.5% in the same period last year.

This clearly illustrates the blow that the recession has inflicted on the country’s business activity, resulting in a major drop in demand for the lease of office space.

High-standard offices in the city’s main business districts have an annual lease rate of 216 euros per square meter, against an average of 264 euros per square meter last year.

Athens’s rate is on a par with those of The Hague, Bucharest and Lisbon.
(source: ANSA)