Building permit applications for the development of new office space tripled in 2025 compared to 2019, a development linked not only to the perceived shortage of high-quality, energy efficient buildings, but also to the gradual decline of remote working.
According to Eurostat, the percentage of teleworking employees in Greece increased from 5.2% in 2019 to 14.8% in 2021. However, in 2025 this percentage fell again to 6.8%, demonstrating the gradual return of many workers to physical workplaces.
The return to the office spurred the need for new premises, which also explains the large increase in permits, which shot up from around 130-140 in 2019 to almost 400 in 2025. Last year alone, the increase on an annual basis reached 38%, Alpha Bank reported in its relevant analysis.
In terms of volume, however, there was a decrease, suggesting that new permits were for smaller projects compared to 2024, when a 100% increase had been observed.
Industrial buildings stand out from the rest of the commercial real estate categories, with the volume of new building permits almost doubling in 2025 compared to pre-pandemic levels. Accordingly, in the hotel sector, construction activity has remained consistently strong in recent years, compared to the period of the economic crisis.
