Sofia shopping mall rents remain stable in H2’13, rents on Vitosha Blvd. jump 23% Rents for Sofia shopping mall space in H2’13 remained unchanged from H1’13 at €30/sq.m., according to Colliers International. Supply was also unchanged at 720k sq.m. as a new opening in Burgas added 30k sq.m. but Varna Towers in Varna exited the market as the owner entered an insolvency procedure. Take-up totaled 41.4 sq.m. during H2’14 and vacancy was 15% with vacancy of projects opened prior to 2012 as low as 2%. Rents on Sofia’s main high street, Vitosha Blvd. jumped 23% to an average of €37/sq.m. following its renovation and vacancy dropped from 20% to 10%. Overall vacancy on high streets decreased by 4pp to 7% in H2’13. Source: Colliers International; FFBH
Posted on: Thu, 20 Feb 2014 18:44:45 +0000