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New record for the office market: 50% of the TLA concluded in Q3 2017 was represented by new demand

About 49% of the total leasing activity (TLA) in Q3 was represented by new demand, a record high for the local office market, CBRE data reveals. This is also a record for the past years, this because new demand is about 20-25% on quarterly analysis.

2017-10-26 15:08:53

The total leasing activity in the July-September period amounted to 75,000 sqm, with the consequent total volume of transactions registered from the beginning of 2017 reaching 251,000 sqm. Throughout the first nine months, the highest demand levels were recorded in North and Pipera sub-markets, followed by the Central and West sub-markets.

In addition, the take-up (total leasing activity excluding renewal/ renegotiation) represented 84 per cent of TLA in Q3 2017 and 69 per cent in the first nine months of the year. In the first nine months, about 28 per cent of the transactions were concluded in Pipera area, followed by North, with 25 per cent of the transactions, while in CBD was 16 per cent of the total TLA.

IT&C sector accounted for 78 per cent of the TLA in the office spaces in the third quarter, followed by professional services, with 10 per cent.



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