Increased Rental Levels in Sofia Office Centers

The activity in the outsourcing industry sector in Sofia and the interest shown in the Sofia office centers led to an increase in the rental levels. This is especially valid for the rental levels of offices in Sofia, based in the new business centers and large shopping malls. The rental levels of Sofia offices have gone up with approximately 8 % and the market is characterized by a trend of stability and growth dur to the outsourcing companies. This increase in the rental levels of Sofia offices is the first to be registered since 2011.

Due to the sustained interest shown by the IT and the outsourcing companies, the percentage of the available office premises of class A in Sofia has dropped down. This tendency gave confidence to the development companies to start new projects, as well as to the landlords to ask for office rent up to 13 Euro/sq.m. Most of the companies are looking for Sofia office premises in the price range between 10.5 and 12 Euro/sq.m, where the rental price depends on the location and on the requirements of the tenants. The number of the rented offices in Sofia is going up and during the first six months of the year they were around 60 000 sq.m. Mainly, these office premises in Sofia have been rented by companies that are already present on the Sofia market, but are looking for more spacious offices or for better location.