Sofia area industrial property with limited rental, demand growth - TopicsExpress

Sofia area industrial property with limited rental, demand growth prospects The rental and demand growth prospects of Sofia area industrial property are limited and developers are cautious and stick to the conservative built-to-suit model or require pre-leases to start construction, according to real estate consultants Forton. In Q2 2013 the modern stock of industrial property increased by 3.85% on the quarter to 764K sq.m. and the second quarter was almost twice as strong as the second quarter of 2012 when 13k sq.m. of industrial and logistic space came to the market. The main reason for the increase was that during that period Sopharma has opened its new factory in Sofia, which raised the modern industrial stock in the capital by 21.3K sq.m. Vacancy rate in Q2’13 fell to 3.24% from 3.36% previously, while rents remained stable at €3.5 per sq. m. per month. Source: Forton; SeeNews; FFBH

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