BUSINESS

Competitive cost of offices in Athens

The Athens office market has slid to 40th spot out of 67 cities around the world in cost terms, from 39th last year, according to an annual survey conducted by international property consultancy Cushman & Wakefield.

The survey found that use of office space in the area around Syntagma Square in central Athens costs an average of 358 euros per square meter annually, out of which 311 euros/sq.m. goes toward rent and 46.50 euros/sq.m. concerns other operational expenses such as maintenance etc.

Notably, despite the considerable decline in rental rates for offices in Athens since the start of the crisis – estimated at over 40 percent – the Greek capital remains a more expensive city in terms of office costs than the Danish capital Copenhagen, which ranked 41st in the survey.

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