Will greek real estate market recover? Is there need for high quality workplace properties?

The annual ELIE (Hellenic Valuation Institut) conference for greek real etstate market presented interesting insights anr remarks.

We focus on office buildings.

70% of existing office buildings are built before 980. Only 3,2% of office buildings are sustainable. There is great office building stock but luck of grade A offices.

For grade A offices rents tend to rise and yields tend to low, which is a result of higher demand. Rents for grade A offices in the center of Athens can be even three times more than rents for grade B offices. Vacation rates are less than 5% for grade A offices and around 15% for grade B offices.

Low grade offices have no deamd at all even if they are offered in remarkably low rent rates.

Demand for office building properties is expected to rise even more with the recovery of state economy.

The demand for high quality offices is proven.  There is building stock but cannot meet the contemporary workplace needs. We can identify a clear investement opportunity with definitely promising ROI.

Architectural workplace design can achieve existing building transformation to contemporary high standards workplaces with space management and energy performance optimization. New workspaces in existing buildings will offer various advantages for companies and their employees well-being, will reply to a specific real estate market demand and will create return of investement for both investors and companies.