Vitosha boulevard – actual again

The most expensive market street in Sofia – Vitosha, is attractive for the big fashion brands again. The trade activity on the street suffered from more than two years because of the lightened human traffic due to the building works of the new metro line, the crysis and the new open big malls. The prognosis say that the end of the building works in this summer will turn back the interest to this area, and in terms of 1 – 2 years there will be created a new stable mix of shops, bars and restaurants.

The big fashion brands, along with the malls are interested for trade spaces on Vitosha street. First of the new wave of fashion brands that stepped on the street is the Spanish company Inditex, that opened the shop Zara infront of the juridical palace. Accordingly to different sources, brands like New Yorker, Deichmann, Humanic and H&M search opportunities from months to step on Vitosha street.

The traders who search market space on the street can be separated on two main groups: the first are fashion brands that search spaces with minimal area of 300 square meters. The second are chains of pharmacies, drugstores and cosmetic shops, that can fit in smaller areas.

Another strong factor for the growing interest of the traders to this street is the serious discount of the rent rates, which is 27 % only for the last year. In the moment the renting rate for a space of about 100 square meters is about 40 EUR per square meter, and only few years ago it was 100 EUR per square meter.

The traders would come back to the street, because after the end of the building of the metro line there will be heavy pedestrian traffic again. In the moment the problems are the bad access and the bad vision of the street. Another problem are the unclear plans and terms for renovating of the street and building of underground parking lots.

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