Colliers International

Flow volume into the CEE-6 commercial real estate markets picked up in Q2 2019, registering a cycle-high EUR 3.3bn for the quarter. Following on from the weaker Q1, H1 2019 volumes at EUR 5.5bn were thus just -3% down on H1 2018's record.

Demand for modern commercial properties in Bulgaria is at record highs, Colliers International reports. The total utilized area is 21 900 square meters, and thus the first half of the year marks levels not seen since 2015. The analysis includes shopping centers over 10,000 sq.m.

The progressive development of online commerce globally has not significantly affected the demand for modern commercial properties in the capital in the first half of 2019. On the contrary, it has reached record levels on a half-year basis since 2015. The total utilized area for the period under review is 21,900 sq.m. This is stated in the latest report by Colliers International.

US high-tech VMware will rent more than 20,000 square meters in two of the buildings built in the Garitage Park complex. The announced rental area is the biggest office deal on the Bulgarian market.

Buildings will be put into use in mid-2019. VMware will provide more than 1,600 jobs, meeting rooms, leisure facilities, and employee entertainment.

Rental rates of class A office space in Sofia have reached EUR 13 per sq.m. in Q1 2014, according to the recent data provided by Colliers International.

The increase is 8.3% compared to the previous six months and on an annual basis, Investor.bg informs citing the company report.