News

More and more Bulgarians prefer larger shopping facilities

In 2006, 3 major shopping centers will open in Sofia and 1 in Veliko Tarnovo. Large scale shopping facilities are also planned to be built soon in both Varna and Burgas.

Demand for retail space in high street locations in Sofia continues to exceed supply. Strong demand comes mainly from fashion boutiques, fast food restaurants, pharmacies and financial institutions.

Rental levels in large shopping centers in Sofia range between 30-60 EUR/m2/month, depending mainly on the size and position of the retail unit. Due to the limited supply, rents on attractive high streets command significantly higher levels.

Colliers International released this information and more in its retail real estate flash, covering supply, demand and rental levels in the retail segment of the Bulgarian market. The full content of the report is published on Colliers’ website.

Colliers International is one of the world’s leading real estate companies with more than 9,142 dedicated professionals working in 248 offices in 51 countries. In Bulgaria the company has operated since 1991 and has offices in Sofia and Varna.