163,000 m² of new retail space completed in Q2 2010

2010-08-24

Large outlets are increasingly dominating the retail space rental market, according to Forton International. Large international chains are among the few retailers to continue expanding amid the difficult economic conditions in Bulgaria, with brands such as Zara and New Yorker searching for more extensive areas.
In Q2 2010, an additional 163,000 m² of retail space were added to the available stock in Bulgaria, a record number which is not expected to be repeated in the near future. The total amount of retail space in the country at the end of June 2010 thus became 485,000 m². At the same time, rents stagnated or continued to fall across the country, with rents for retail outlets in the centre of Sofia €55.0 per m² per month, half of their 2005-2007 levels.