2016: Increased Demand for Office Premises in Sofia

A new tendency in the office market is now to be traced in Sofia city. Along with the serious interest towards the offices larger than 1000 sq.m of usable space, many startup companies from all over Europe are now looking for smaller office premises in Sofia between 200 and 400 sq.m of area. The local companies that are further developing their services and production are also looking for new offices. Most of the companies on demand of office premises are coming from the financial and the IT sphere. There are also companies trading on the stock markets or working in the sphere of the high technologies and services.

Since the beginning of 2015 there is a greater supply of office premises thanks to the office projects that have been restarted in 2014. The new office projects in Sofia are offering larger office premises above 1000 and 1500 sq.m. The subsidiary companies that are looking to relocate under one roof have interest in these large office premises and they are to release the smaller offices they used to rent. It is expected that those smaller office will answer the needs of the startup companies. The rental levels remain in the levels of 10-12 Euro/sq.m. per month in the Sofia office premises of class A. However, in the most luxurious offices the rental prices go up to 13-14 Euro/sq.m. per month.