site.btaRent Prices of Stores in Sofia's Main Shopping Street Increase 27 Per Cent from First Half of 2013

ESD 13:35:30 04-09-2014
ZH1335ES.110
110 ECONOMY-COMMERCIAL AREAS-RENTS-ANALYSIS

Rent Prices of Stores in Sofia's Main
Shopping Street Increase 27 Per Cent
from First Half of 2013

Sofia, September 4 (BTA) - An international real estate company
reports an increase of rental prices of commercial areas in a
big portion of the main markets in Central and Eastern Europe in
the first half of 2014.

Since the start of 2013, twelve of the markets in Central and
Eastern Europe have witnessed an overall growing trend in rental
prices in A-class commercial areas, due to the stabilization or
increase of rents on both main shopping streets and shopping
centres.

Since the first half of 2013, the rental prices on the main
shopping street in Sofia increased by 27 per cent, in Riga, 19
per cent, Belgrade, 9 per cent, and 3 per cent each in Moscow,
Saint Petersburg and Warsaw. Rental prices in shopping centres
increased 33 per cent in Belgrade, 7 per cent in Saint
Petersburg, 5 per cent in Riga, 4 per cent in Vilnius and 3 per
cent in Warsaw and in Prague.

The rental prices in Sofia recovered from the low levels
reported in 2012 thanks to increased demand spurred by the
ongoing reconstruction of the city's main shopping street,
Vitosha Boulevard.

A top manager of the company said that the increased investor
trust on the segment of commercial areas in the past year has
resulted in an increase in the volume of new developments in the
region of Central and Eastern Europe. For the entire 2013, more
than 1 million sq m of commercial area were finished, with new
2.5 million sq m already started at the end of the year. VI /ZH/