Inventio Consulting on The News
Inventio comments in Kathimerini, the latest developments in the Greek Office Market.
The lack of quality stock (size, grade, single building/ownership) drove to the decrease of yield for prime office spaces (still higher than most European capitals) as Foreign (funds) and local investors (REICs) are competing for the acquisition of good office buildings (size, location, Grade A). Rental rates also increase while occupancy in Grade A properties remains high. The upward trend shall continue in the short term mainly due to the lack of quality supply and the positive appetite of investors to enter to the Greek real estate market. By Mid-2019, the Inventio Office Value Index has gained 50% from its bottom, but it is still 30% lower from its 2008 peak value.