Bulgaria's Capital Nears Athens, Istanbul in Retail Real Estate Rentals

Business | January 27, 2004, Tuesday // 00:00
Bulgaria's Capital Nears Athens, Istanbul in Retail Real Estate Rentals Data Source: FIABCI, ADIS Ltd.

The retail space rentals in the Bulgarian capital Sofia range between EUR 25-120 / per sq.m. / per month, according to the latest data from ADIS Real Estate.

The retail real estate rentals in Sofia Downtown approach these in the major cities of neighboring Greece and Turkey - Athens and Istanbul.

Though retail real estate prices in the three cities have almost reached equation, Athens ranks ahead of Istanbul and Sofia in low and prime retail rentals. Retail rentals in the Turkish and Greek cities range between EUR 30-130 per sq.m./per month and EUR 40-150 sq.m./per month respectively.

London tops the ranking for prime retail rentals among European capitals with over EUR 1200 per sq.m./per month, outstripping Paris, Moscow, Dublin and Milan.

Experts point out that interest in retail real estate leasing in Sofia is stable. Demand is concentrated primary in Sofia Downtown and the central commercial streets, where it exceeds the supply.

The rental prices depend on such criteria as location, type of business activities, size of premises, window display and quality of finishing works.
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