Increasing the marketing of old offices in Attica in the 1st quarter 2025 is recorded, compared to a year ago.

According to Geoaxis “Observatory – Offices in Attica” released on Saturday and in the 6 study areas there was an increase in the requested rents, while in the depths of decade the data show the Impressive average rise of 65.5%.

Old offices exceed 90% of the stock at a time when (few) newly built energy certified buildings record more than twice as much rents, up to 35 euros/sqm/month, without this number being calculated.

According to the historical database held by Geoaxis for the evolution of office values ​​in Attica, surveys conducted and related workshops carried out by RICS and ELIE on the course of the real estate market in the market for professional real estate (offices) in recent years:

  • Extremely limited stock and high demand for modern, high quality, green offices, independent position, which record rents of up to 35 euros/sqm/month,
  • Absence of foreign funds mainly related to the size of the available product and the rigid market framework,
  • Continuing recovery of values ​​of northern suburbs (Marousi-Kifissia),
  • Significant increase in newly built stock in the north (Noval, PWC, TEE) in the coming years,
  • Piraeus’s placement as a location of possible installation of new subway offices and new developments,
  • Increasing a number of old offices converted into apartments in downtown Athens as the use of Airbnb is proven to be more appropriate, and the Golden Visa program also favors conversion,
  • Relative demand for renovated viewing offices in the center, while turning small and medium -sized enterprises to smaller and cheaper professional roof in decentralized positions,
  • Increased offer and particularly low prices in old standards horizontal properties in secondary positions,
  • Coastal gap opening between AAA AAA offices and low quality offices or in secondary positions,
  • Continuing increase in construction / funding costs and cautiousness in the development of new small -scale investment projects.

Medium -term tendency

Today, the office market is characterized by three different speeds.

Speed ​​first: Quality, modern, green offices, almost independently, are very high demand and rents that can escape up to 35 euros/sqm/month and yields of around 6.0%.

Speed ​​second: Old, renovated offices in Kolonaki and on central road axes, note remarkable durability and rental values ​​of about 20 – 25 euros/sqm/month with 7%.

Tuesday speed: Older or non-renovated offices that cannot be rented for even 10-15 euros/sqm/month in secondary positions in downtown Athens, with yields of about 7.5%.

These different speeds are expected to continue for the remaining 2025/2026 if the real economy that would help the thousands of small and medium -sized businesses and freelancers seem to grow and absorb the stock of non -high quality offices.

Structure & Research Areas

The market research was carried out on the ground collection of data through autopsies we conducted as well as through ads published in newspapers and online, for six primary office markets during the first quarter of 2025.

The following are specified as study areas:

  • Kifissias L.
  • Constitution
  • L. Syngrou
  • Mediterranean
  • Pillar
  • Vouliagmeni Ave.