MBL

Sofia Office Space Market, Q2/2018

The MBL’s latest office space research for Q2 2018 in Sofia is out now.

 

Interesting accents from our findings are:

 

  • The rental rates in the first half of 2018 remained stable, and this trend is expected to continue until the end of the year:
    • The average asking rent levels for Class A office buildings are between € 12 – € 14; and for Class B – between € 7- € 11;

 

  • The vacancy rate remains nearly unchanged (10.1%). This is likely to increase as new office projects are expected to be delivered towards the end of the year;

 

  • 368,000 sq. m are under active construction and 240,000 sq. m of those are expected to be completed by the end of 2019;

 

  • The net absorption (newly leased offices) in the first half of this year amounted to 40,000 sq. m, indicating a stable level of expansion for the companies occupying modern office space in Sofia.

 

Download the full report.

 

Source: MBL