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Greece : Office Snapshot - Q1 2013

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Greece : Office Snapshot - Q1 2013

The Greek economy continues to contract although the pace is easing a little. However, further job cuts and tax rises will hold back domestic demand and as unemployment rises the effect on the real estate market is for companies to downsize and release excess space to the market. As more space becomes available, rental levels, despite incentive packages on offer from landlords will decline especially in the more peripheral areas of both Athens and Thessaloniki.

Source : Cushman & Wakefield

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