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Sofia Office Supply Stable, Rents Drop

SOFIA, BULGARIA-The city’s overall vacancy rate of 21% continues to increase, and was higher in Class A than Class B buildings, reflecting price sensitivity.

By Allan Saunderson | Updated on August 17, 2010

SOFIA, BULGARIA-The momentum of new office supply in the Bulgarian capital of Sofia persisted in the first half of 2010, and this will continue in the coming months, according to Colliers International. New office space of 1.1 million square feet boosted the total stock in Sofia to 12.6 million square feet in the period.

The bulk was delivered by European Trade Center, Doverie Business Center, DSK Bank Headquarters and Krystal Business Center. Varna saw a moderate 5% increase office stock to total 1.9 million square feet. Projects under construction in Sofia dropped to 7.2 million square feet at the end of June, the lowest level since 2007.

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