The investment volume in Bulgaria’s real estate market since the beginning of the year has reached €472.2 million. The data comes from Colliers’ latest report on Sofia’s real estate market in the third quarter.
Prime yields remain unchanged – 7.50% for office space, 7.75% for retail space, 7.50% for industrial and logistics properties, and 3.75% for residential properties.
Office rents remain stable
The total area of existing Class A and B office space in Sofia amounts to 2,524,100 sq. m. A further 237,600 sq. m is under construction. The vacancy rate is 11.5%.
Average asking rents are €17 per sq. m per month excluding VAT for Class A offices and €12 for Class B offices. In the flexible workspace segment, available space totals 105,500 sq. m, while a further 3,800 sq. m is under construction.
Prices in this segment have also remained unchanged. A workstation in a coworking space is offered for an average of €150 per month, a dedicated desk for €200, and a private office for €280.
Logistics vacancy falls to 1.3%
Existing industrial and logistics space available for speculative leasing in the capital totals 1,488,500 sq. m. An additional 130,800 sq. m is under construction. Vacancy has fallen to 1.3%.
Rents are €6 per sq. m per month for Class A properties and €4.5 for Class B properties. In the retail segment, prime rents in shopping centres are €46 per sq. m per month, while rents in retail parks are €13.
No new shopping centres have begun construction. A total of 29,600 sq. m is under construction in Sofia’s retail parks. Vacancy stands at 2.8% in shopping malls, 2.9% in retail parks, and 2.7% on Vitosha Boulevard.
Houses in residential complexes reach €850,000
In the residential complexes segment, the average sale price of a detached house reaches €850,000, including VAT and a parking space. A semi-detached house is offered for an average of €740,000, while a terraced house costs €565,000 on average.
The supply of houses in residential complexes includes 2,170 residential units. A further 1,460 homes are under construction, according to the report’s data.
Prime yields remain unchanged across the main market segments.
Detailed statistics on average property prices in Bulgaria by city and neighbourhood can be found at imot.bg