10.8.2007

Office supply goes up, vacancy rate stays for now

Office supply in Sofia is still on the rise, Colliers International research shows. As of the end of the first half of 2007, there were 606 500 sq m of class A and B office space, which is a 10 per cent growth compared to the beginning of the year. Most of the new offices are in the periphery of Sofia.

The vacancy rate remained 5.1 per cent, though available office space is on the rise in the outskirts and growing scarce in the CBD and areas just outside the ideal centre. Given that more than 330 000 sq m of office space will come on the market in the outskirts, the overall vacancy rate might go up.

Class A office space currently rents at 12 to 26 euro at sq m, depending on the location.

Source: www.propertywisebulgaria.com