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Office rents remain stable in Q1

Intime News/ ΦΩΤΗΣ ΜΠΑΚΛΩΡΗΣ

Meanwhile, a small increase has been recorded in Ermou, Kolonaki and Glyfada, which is attributed to the limited supply.

Office rents remained almost stable in the first quarter of 2023 compared to the same period last year, while small increases were reported in retail stores located in central commercial roads, according to commercial real estate advisory company Cushman & Wakefield Proprius.

Investments in the office market totaled 170 million euros in the first quarter of 2023, the company said, while many investors have adopted a wait-and-see stance because of the parliamentary elections and the increased financing costs.

Downtown Athens and in areas nearby the capital, the average rent for quality offices remained at 25 euros/sqm/month, with the yield at 5.8%.

Meanwhile, a small increase has been recorded in Ermou, Kolonaki and Glyfada, which is attributed to the limited supply.