Jump in demand for new offices

Over 200,000 square meters of new office buildings are currently being developed in Athens' real estate market, while another 133,428 sq.m. are being planned, a sign of the growing investment activity to meet the very high demand for the lease and use of modern premises by businesses.

According to the latest analysis by CW Proprius, only during the second quarter of the year, 45,000 m2 of premises in the wider area of Attica were absorbed, that was 50% higher compared to the first quarter, but also 13% lower on an annual basis, which is mainly due to fewer agreements and the lack of available premises. During the second quarter, 60% of deals were for modern office buildings.

In total, during the first half of 2024, agreements were signed for the lease of 75,000 m2, with 40% of the agreements regarding the renewal of existing contracts and the remaining 60% relocation...