The market demand for offices caused rising of rents up to 30 % in 2007
500 000 sq.m. of commercial developments (malls) are expected to emerge on Bulgarian market in the period 2008 – 2010. At the moment there is a little bit more than 100 000 sq.m. of commercial area, already built and working. The volume will be doubled this year, but at the expense of the small towns. No new malls are expected to be opened in the capital this year. Most of the projects are to be fulfilled next year or the year after. According to the agency’s information, currently there are seven already built malls in the country, and 15 more are underway of building (see the table). The business’ offices sales were the most active within the non-residential segment of the market last year, they report from Colliers. The development of the business environment in Bulgaria leads to increased demand for offices. This also caused increase of the rent prices – between 14 % and 30 %, depending on the location. 161 000 sq.m. of office area were built and used last year, which exceeded the preliminary expectation for 120 000 sq.m. rented office area. The real increase of the rented offices is almost 60 % in comparison with last year. The levels of vacancy remain low for Bulgaria - 2 - 5 %.
The ready malls: Sofia 4, Plovdiv 1, Varna 1, Veliko Tarnovo 1
The projects underway: Sofia 4, Plovdiv 3, Varna 3, Stara Zagora 1, Burgas 1, Pleven 3 |
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18 February 2008 |
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