Savills: 5% annual fall in prime office rents in Athens in 3Q15

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In its latest (3Q15) Market Report on the European office sector, Savills noted that prime rents and secondary rents in Athens were, respectively, EUR240 and EUR105 per square metre per year. Year-on-year growth in prime rentals has dropped from +10% to -5% since 1Q15. Looking forward, Savills anticipates that take-up of office space will remain unchanged. Supply of new space and prime rents are also expected to remain stable. In its report, Savills highlighted that the stock of Grade A and Grade B office space is ageing and limited after six years of economic crisis.

Source : Savills/December 2015/Athens/OFF