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Bulgaria office properties tipped as hottest market niche ‘07

Рубрика: Property news Източник: Dnevnik Business centers will be the top growth segment over the next 18 months with return rates at around 9% as multinationals seek to position themselves here in the aftermath of the EU entry while local corporations move out of non-purpose-built to purpose-built office premises. Office rent levels added 5-8% in the first half of 2006.
The supply of Class A office buildings stood at 165,000 sq m by July 2006, up 28% over end-2005. Total supply across the country is estimated at 513,000 sq m.
The average rate of office building vacancies has dropped from 13% ate end-2005 to 8%.
The key office properties in development in the capital are Business Park Sofia, Alfa Center and Europark.