Rents in Varna Catch Up With Sofia's

A shop of 23 sq m in the busiest part of Kniaz Boris I blvd. in Varna can be leased for EUR 140 per sq m, according to the available supply of retail space in the Black Sea city.

In Sofia the top levels are on Vitosha blvd. where the upper end is EUR 120 per sq m after reaching EUR 200 per sq m (in an offer dated a month ago) earlier.

The creation of a second pedestrian street in the capital city, Graf Ignatiev, with a decision of the Municipal Council, could lead to rent increase there too.

In the downtown area shopping space rental levels are from EUR 70 to 100 per sq m, as in Varna the figures are EUR 67 to 140 per sq m, in Plovdiv - EUR 80 per sq m, and in Bourgas - EUR 60 per sq m.

In the shopping malls rents vary from EUR 30-40 per sq m to EUR 55-60 per sq m for Sofia and Varna.

The upper end sales prices of retail space in Sofia keep the levels from last month. The highest price for a shop in the capital city remains on Vitosha blvd. - EUR 21,520 per sq m. On Patriarh Evtimii blvd. and G.S. Rakovski st. the most expensive shops are for sale for EUR 15,000 - 17,000 per sq m.

Meanwhile owners started asking higher prices for not so centrally located boulevards. A shop of 78 sq m on Hristo Botev is for sale for EUR 6,410 per sq m, while until recently the top asking price on that boulevard was less than EUR 4,000 per sq m.

Higher than these levels are commanded for retail space in Iztok neighborhood. A shop of 41 sq m is for sale for EUR 9,020 per sq m.

In Varna and Plovdiv the top sales prices are the same, ranging from EUR 12,000 to 13,000 per sq m. In Bourgas, the upper supply levels are less than half the figures in Varna and Plovdiv. A shop of 53 sq m in the center is for sale for EUR 3,770.

Source: Index Imoti