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| Office space offers a good deal in Bulgaria | ||
Bulgaria has ambitious plans for its future and its role within Europe, clearly visible in the form of office developments which are spreading across the country.The problem is the sheer over supply of these units now, with even more expected to flood the market in 2010. Official figures show that the country’s normal demand for office space has been around 160,000 sq m. Last year, 165,000 sq m was available with only around 70,000 sq m being taken up. A surge of around 375,000 sq m of new office real estate in Bulgaria is expected in 2010 with no one interested in renting. Rental values have fallen by around 40% since the peaks of 2008 and now further price adjustments can easily be anticipated in 2010. Sofia is expected to be the worse effected where construction has been most intensive. Office property in Sofia had until now been robust in holding its value but will struggle to do so this year. However, entrepreneurs looking for a central global location for their businesses could do well to consider relocating, renting, or even buying property in Bulgaria. |
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| Monday, Jan 18, 2010 | ||
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