The lowest rates for renting offices in Europe are in Sofia, Bulgaria

02.05.2011

If you wish to open a business in Europe you have to know that the lowest rental rates for first class offices are in Sofia. In the first three months of 2011 the trend for discount has been continued. This was shown by a market research of Forton International. The average rates for renting offices in the periphery of the city are: 8 Eur per sq.m; for these ones located at the centre of the city or near the centre part of Sofia is 12 EUR per sq.m. The rental rates are back on the levels of the year of 2004.The constant releasing of new spaces in time of absence of new renters is the mine reason for the continuing discount.
According to data the office rental rates in Zagreb, Tallinn, Belgrade, Riga and Ljubljna are bigger with 5 EUR per sq.m accordingly to these in Sofia.
At the moment there are approx new 40 000 square meters of offices on the property market, and till the end of 2011 there will be approx 135 000 square meters. There is expectation some investors in Bulgaria to slower the opening office for their business until they find renters. This is because of the growing offering of offices that pressures the rental rates.
From the beginning of this year 2011 till now are rented only 10 000sq.m of office spaces, which is the lowest level for the last three years.

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