Demand for new offices boosts prices
Rents are up to three times more expensive in modern and energy-efficient office buildings that have been built recently than older office stock. This explains their appeal among investors as well as real estate development companies.
According to a survey by the certified surveyors at Geoaxis, given that 90% of the office stock available for lease concerns old and non-modern office space, demand for modern office buildings remains at a very high level. Therefore, the rents of the few newly built and modern buildings with bioclimatic features and low operating costs are around 30-35 euros per square meter per month.
As noted by Geoaxis, in the first quarter of 2023 rents showed a small increase in the other office categories. Among the independent office buildings with parking spaces on main road axes, Mesogeion Avenue shows the greatest increase (1.75% from €10.30 to €10.48/sq.m./month), followed by Vouliagmenis (1.52% from €9.21 to €9.35/sq.m./month), Kifissias (1.39% from €11.53 to €11.69/sq.m./month) and Syngrou (1.04% from €9.61 to €9.71/sq.m./month).
