The economic outlook in Greece remains fragile with ongoing austerity measures restricting occupier demand. However, market sentiment is showing initial signs of improvement and there are a number of funds assessing the market in terms of distressed properties. The prevailing trend within the office market continues to be lease renegotiation and consolidation. With many tenants operating cost cutting strategies, landlords continue to offer generous incentives and as a result, prime rents were unchanged over the quarter.
Source : Cushman & Wakefield