The High Street Survives, Rents Climb

The expected drop of rent levels on Sofia’s high streets did not happen with the openings of the first shopping malls. Currently top levels for shops for rent are within the EUR 180 - 200 per sq m range. For regional centers like Varna, Plovdiv and Bourgas retail space on main streets vary from EUR 70 to 100. EUR 100 per sq m have been asked for 55-sq m premises of on Varna’s Knyaz Boris blvd.

The low-end rent levels on Sofia central streets range between EUR 17 and EUR 40 per sq m. Rents in Sofia’s shopping malls now start from EUR 30 per sq m to reach EUR 60 per sq m with no space available in the operating shopping centers.

In the planned retail centers in towns like Stara Zagora and Pleven shops will be leased at EUR 15 to 35 per sq m monthly rent. Shops for sale on Sofia main streets command prices between EUR 3,000 and EUR 8,000 per sq m in the high end. Yet, a unit of 65 sq m on the capital city’s Vitosha Blvd. is under offer with asking price EUR 21,568 per sq m.

In Varna center the highest asking price is EUR 17,000 per sq m. In Plovdiv top levels range from EUR 2,000 to EUR 6,000 per sq m and in Bourgas they typically reach EUR 3,000 per sq m. Retail space yields range from 7 to 8 per cent for prime product in big cities and from 8 to 10 per cent in smaller ones, according to a survey by Colliers International.

Source: Индекс Имоти