The new office spaces in Sofia for the first 6 months of 2013 are 63 % less than the same period in the previous year, says research of the Bulgarian properties market.
Accordingly to Forton International, the new offices allowed in exploitation from January to June 2013 are with total area of 29 400 square meters. The decline is due to the oversupply in the last years combined with decline of the economy, lack of renters and discounting renting rates.
The restricted building now and the technological time necessary for finishing of new office buildings can lead to vacuum in the market of office properties in the next years, say experts. Accordingly a Forton report in the second three months of 2013 only 10 000 square meters of offices are put in exploitation in Sofia, which is the lowest level since 2007. They are located in three buildings.