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More than Half of Office Tenants Are Positive about Their Business

Tuesday, Jan 04, 2011

Sofia, January 3 (BTA) - Office tenants are more positive about
the prospects of their businesses in 2011 compared to the
beginning of 2011, the online edition of the "Dnevnik" daily
said Monday, commenting on a survey of Colliers International.
The survey was conducted at the end of 2010 among the 5,000
subscribers of the bulletin for office spaces distributed by the
consulting company.

The results show that 53 per cent of respondents believe that
the common prospect for business is positive. In comparison, six
months ago only 21 per cent were optimistic about the matter.

Representatives of the business community with negative
expectations have dropped from 56 per cent in May to 11 per cent
in November 2010. Almost all companies that took part in the
survey (95 per cent) expect to retain or even to increase the
number of their employees in the first half of 2011. Only 5 per
cent are planning to cut down the staff.

"The more optimistic attitude of the business community will
encourage the demand for offices by tenants," said Anton
Slavchev, Offices and Business Parks Manager at Colliers
International, Bulgaria. According to him, rents have reached
very attractive levels and a lot of companies are already taking
advantage of the situation so as to expand their offices, to
renegotiate the current parametres of the rent or to relocate.

Absorbed office space in the second half of 2010 amounted to
nearly 110,000 sq m which is 42 per cent more than in the same
period of 2009. "This tendency gives us the confidence to
believe that the demand for office space is gradually returning
to its levels from several years ago," Slavchev said.

The majority of companies that took part in the survey operate
in the sphere of services (37 per cent), with 12 per cent being
from the financial sector and 9 per cent being representatives
of the media, the advertising and the marketing sectors. Small
and medium-sized enterprises predominate, and more than half of
the respondents from this segment have less than 50 employees.
BTA

Source: newsweb.bta.bg