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New Colliers Research Reveals 150,000 m Class A Office Space Under Construction in Athens - 150,000 m of Class A office space is available right now in the Greek capital say Colliers, the international property consultants, in their 2007 Athens Office Market Overview
New Colliers Research Reveals 150,000 m Class A Office Space Under Construction in Athens

 

NewswireToday - /newswire/ - Athens, Greece, 2007/05/14 - 150,000 m of Class A office space is available right now in the Greek capital say Colliers, the international property consultants, in their 2007 Athens Office Market Overview.

   
 
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There is a total of 150,000 m Class A office space under construction in Athens, according to new Colliers International Hellas research. That compares to an existing inventory of Class A office space available for immediate take-up of 50,000 m, a vacancy rate of 3%.

Athens total office market stock is estimated at more than 2 million m, with some 130,000 m having been added in 2006. Vacancy rates have been falling from 12% in 2004 to 10% in 2005 to 8% at the end of 2006. Rental rates in the Central Business District have meanwhile stabilized after their declines of the previous years.

Initial yields are continuing to fall in Athens, narrowing the gap between the Greek capital and other major European cities say Colliers International Hellas in their Athens Office Market Overview for the first half of 2007. Recent transactions have suggested a yield rate of approximately 6.2% compared with rates of approximately 5.5% in other major European cities.

Richard Hazell, Managing Director of Colliers International Hellas, said Our research shows that this is a very dynamic market, and one where I am happy to say we are the clear market leaders. We are involved in some of the most exciting projects around, such as the leasing of the offices at the new Athens Stock Exchange.

Philip Bay, Regional Director, Colliers International Southeast Europe, concluded, I am very proud of the excellent market research that we produce free of charge for everyone. Its an extremely valuable tool for executives, journalists and analysts. Its just another reason why Colliers International Southeast is the leading property consultants in the region.

The new research appears in the Athens Office Market Overview for the first half of 2007 and is available free of charge on the Colliers website.

Colliers International Southeast Europe was recently named Property Consultant of the Year for the region for the second straight year.

 
 
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Written by / Agency / Source: Colliers International

 
 

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New Colliers Research Reveals 150,000 m Class A Office Space Under Construction in Athens

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Publisher Contact: Christen Thomson - Colliers.com 
+ (385) 99 218 7603 christen.thomson[.]colliers.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Colliers International securities in any jurisdiction including any other companies listed or named in this release.

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