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Sofia office vacancy inflated by new buildings - Colliers
The economic slowdown aside, a high 25.4% vacancy rate in the Bulgarian capital of Sofia is inflated by just 20 new buildings with only 19% of total office space but accounting for 63% of vacancies, says Colliers International. Excluding these 20, vacancy is around an unchanged 11.5%. Sofia saw 265,500 sq.m. of new office in 2010, raising total stock to 1.4m sq.m.