Local office market seen flourishing
Athens remains one of the most affordable capital cities in European for renting modern office space, a fact that, combined with the significant investments in the development of new modern and mainly green office buildings, as well as the upgrading of part of the existing building stock, generates significant expectations for the future.
In fact, these expectations may also concern the attraction of foreign groups that might be thinking of establishing their headquarters in Athens instead of other cities in Europe, with all that this entails, not only for the office market, but also overall for the economy and the added value to be created.
According to Dika Agapitidou, head of JLL-Athenian Finance, “very recently we have been registering interest in renting offices in Athens, mainly from technology groups who are looking at Athens and a few other cities in the wider region.”
However, Agapitidou adds that there remain some difficulties that prevent the further improvement of the appeal of the Greek market to foreign groups, such as the modernization of the justice system, the removal of bureaucratic obstacles, higher taxes and higher employment costs.
