With supply shrinking, commercial rents are going up in Sofia, according to research conducted by Forton, a local Cushman & Wakefield affiliate. The price for 100 to 200 sqm in the city center is €50 per sqm on average, the data shows. “The rent of first-rate areas in trade centers and on the main streets of Sofia are moving steadily upwards due to the lack of supply,” said Ivan Gramatikov, manager of commercial areas at Forton. “The market of commercial areas cannot reach the volume of the previous year due to the limited offers of first grade assets. We don’t see interest from new investors. That’s why we expect the profitability of the deals to stay at 7 percent with the tendency smoothly falling in the upcoming months.”
