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Nearly 1 in 4 Offices in Bulgaria's Sofia Vacant

1 min read Source: Novinite

From our news archive: this article was published in January 2011. Figures and rules may have changed since.

Every fourth office in Bulgaria's capital Sofia is vacant, according to MBL yearly office market report.

In 2010, the overall vacancy rate in class A and class B office buildings in Sofia went up to 24.3% of the overall inventory or 335 000 sq.m. New absorption amounted to 105 000 sq.m., indicating a 50% increase year on year.

The last year saw 265 500 sq.m. of new office space in Sofia, raising the total stock in the capital to 1 378 000 sq.m. Additional 250 000 sq.m. of new office space are scheduled for completion by the end of 2011, the preliminary data shows.

With the economy stabilizing, more and more companies have started approaching their business in Bulgaria's capital more optimistically, according to MBL.

Originally published by Novinite.

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