ECONOMY

Office space is competitive in this country

office-space-is-competitive-in-this-country

Greece is considered quite competitive in terms of the cost of company office space and operation in this country: According to the latest report by Colliers property services, Greece ranks 18th out of 29 European countries, with the first being most expensive and the 29th the cheapest, as the average annual cost per full-time employee amounts to 5,442 euros in this country.

The above costs concern office rental rates (for spaces between 500 and 3,000 square meters in high-standard buildings), the creation of a secure and efficient working environment (including security, catering, storage and document management), equipment, infrastructure and office building maintenance.

Colliers found that in Greece that 5,442 euros breaks down into 3,080 euros for rent, 1,500 euros for equipment and infrastructure, 702 euros for security and catering for each employee and 162 euros for building maintenance.

It is worth noting that the rental rates of high-standard office spaces (Class A) have dropped in recent years, but this has been at a considerably lower rate, about 20 percent, than is the case for offices of lower standards, which have seen a decline of over 35 percent, according to Colliers.