Retail Space Q3|2016
Friday, 11 November 2016
In Q3 2016 the vacancy rate for the capital was 18%, while for the secondary cities excluding Sofia the registered rate was 19%. This represented a significant increase in Sofia compared to the level of 12% for Q2 2016.
The total supply of retail space in shopping centers remained stable in the third quarter of the year at the levels of 428,400 sq.m. in Sofia, and 760,000 sq.m. in the country. In September the first shopping mall in Sofia, City Center Sofia, was reintroduced under the name Park Center Sofia.
The dynamics on the retail market was kept by the big-box segment. Billa is now operating 107 units in the country and Lidl added two more units in Sofia, totalling 82 overall. The two retailers are the leaders on the market by total number of operating units.
The number of Carrefour hypermarkets kept on reducing the number of operating units.
The Retail Sales Index measured by the National Statistical Institute increased by 5.4% y-o-y as of August 2016. The breakdown by economic activities shows that the retail sales in specialized stores with food, beverages and tobacco is the best performing category on an yearly basis (+14%).
For further market highlights review MBL Retail Spaces Bulgaria Q3|2016: