Cushman & Wakefield

The vacancy rate in Grade A offices in Istanbul, Türkiye's financial and commercial center, has declined markedly in the first quarter of 2024 compared with the same period of last year, according to a report by Cushman & Wakefield TR International.

In the January-March period of 2022, the vacancy rate stood at as high as 20 percent.

The increase in new leases for business premises, offices and shops, for both individual businesses and retail chains in Greece's two largest urban centers and other cities, has been steep this year.

Demand to lease stores in the most popular - and expensive - shopping areas in the country is showing a significant increase this year.

According to data from Cushman & Wakefield Proprius, this year's first quarter saw a 40% rise in new leases compared to the fourth quarter of 2022.

Investments in Greek commercial real estate, i.e. hotels, shops, offices and warehouses, posted a new record last year, as recent data from a real estate consultancy firm show that Greek and foreign funds invested in this property category 40% more in 2022 than in 2021, reaching 1.65 billion euros.

CBS International triumphed in this year's selection as the most successful company in its segment, winning the first place in all four categories:
- Top Real Estate Advisor Overall
- Top Valuation Consultant
- Top Agency/Letting
- Top Research Consultant

Modern office lease contracts in Athens have seen rental hikes of up to 11 percent in the last 12 months as a result of the steadily high demand by corporations and mainly the considerable shortage in new developments, forcing businesses to seek spaces in the existing stock of commercial properties.

Turkey has been named the best place to site manufacturing plants in Europe, ranking eighth in the world in a fresh report from property consultant Cushman & Wakefield. 

China has lost its top position in the world to Malaysia due to a rise in labor costs, according to the report, titled "Where in the World? Manufacturing Index 2015."