Class A Office Space Rental Rates in Sofia Record 8.3% Growth Y/Y
Thursday, 24 July 2014
Rental rates of class A office space in Sofia have reached 13 euros per sq.m. in Q1 2014, according to the recent data provided by Colliers International.
The increase is 8.3% compared to the previous six months and on an annual basis, Investor.bg informs citing the company report.
Profitability from office rents in Bulgaria's capital city has remained stable at 9.5%, being commeasurable with the markets of cities such as Tirana, Cairo, Saint Petersburg, and Belgrade. Lower-risk market profitability varies in the range of 3.5% to 4.5%.
European office rental rates growth is unstable, although there is a trend of improvement corresponding to the better prospects for the economy, the latest Colliers International report says.