In the third quarter of the current year, the investment volume in real estate in Sofia amounted to 227.2 million EUR, and the return in the various segments of the market remained unchanged compared to the previous quarter - 7.75% for offices and retail space, 7.5% for industrial and 4% for residential properties, according to data from the consulting company Colliers.
The total square footage of existing offices in Sofia is 2,483,300 sq m, with 306,700 sq m. under construction. The vacant space is 12.0% for class “A“ and 13.7% for class “B“, with the average offered rental levels amounting to 15 and 10 EUR/sq m per month, respectively.
The existing industrial and logistics areas in Sofia are 1,436,000 sq m, with another 144,500 sq m. under construction. The vacant areas for this type of properties are only 2.1%. Rental levels are unchanged - 5.5 EUR/sq m/month for class A properties and 4 EUR/sq m/month – class B.
Rental prices in Sofia remain stable in the retail space segment as well. They amount to 45 EUR/sq m/month in shopping malls, 12 EUR/sq m/month in retail parks and 58 EUR/sq m/month on „Vitosha“ Blvd.. No new shopping malls have started construction, and in the parks 62,500 sq m. are under construction.
Colliers data shows that the share of vacant space remains stable and amounts to 3% in malls and retail parks, and on „Vitosha“ Blvd. is 2.4%.
In the medium-high and high segment of the housing market in Sofia, the average sales prices including VAT and parking space for detached houses reach EUR 700,000, for a semi-detached house they are EUR 620,000, and for a terraced house they amount to EUR 460,000.
The supply of houses in complexes amounts to 1,910 residential units, and another 1,500 are under construction.
Detailed statistics on the average prices of properties in Bulgaria by cities and neighborhoods can be seen at imot.bg