OFFICE SPACE MARKET OVERVIEW Q1/2017, PRESENTED BY MBL|CBRE

Market Highlights

The stock of modern office space is 1.761 million sq. m. The space under construction keeps rising and reached 305,000 sq. m.;

The vacancy rate dropped to a record low of 9.1%, as Class A office space remains in high demand, while there were no major deliveries;

The net absorption for Q1 2017 was 17,000 sq. m. The take up was ca. 24,000 sq. m. on a quarterly basis;

The average asking rental levels are in the range of €12 – €14 per sq. m for Class A, while rents for Class B vary between €6.5 and €9.5 per sq. m.;

For further market highlights review MBL OFFICES SOFIA Q1 2017: