Class A Office Rents Slow Down Hike To 1.4% in Q2

Class A Office Rents Slow Down Hike To 1.4% in Q2

Rents for class A offices in Sofia rose just 1.4% in Q2 to 18.25 eur/m2, according to a CB Richard Ellis analyses.

The average annual rent for offices in Sofia stands at 219 eur/m2, which is higher than in Belfast (204 eur) and Bratislava (216 eur).

Return on investments in offices in Sofia (7%) is still higher than the average for Europe and a little less than in the capital of neighboring Romania – Bucharest (7.5%).

Return on investments in offices among EMEA countries is higher in Belgrade and St Petersburg (9%), followed by Moscow (8%).

Unsurprisingly, London 's West End boasts the highest office rents - 1,633 eur/m2 per year, or 136 eur/m2 per month.

Second is Moscow with an annual of 1,080 eur/m2, or 90 eur/m2 per month. Rents in the Russian capita grew by 54.5% over the past year.

The highest increase is in Tel Aviv, where office rentals grew by 75% to 3w5 eur/m2 per month.

The Serbian capital Belgrade is the only city where rents decreased in Q2. Oversupply and excessive construction are the reasons for a 9.5% decline there.

European cities are seeing an overall decline in office renting, which slipped by 20% in Q2.

The index of rent changes in main European cities has climbed just 1.7% in Q2, which is a major slow down compared to previous periods.

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