Insufficient Office Premises in Sofia City

The main tendencies concerning the office market in Sofia in the last quarter of 2015 included an active search for office premises and a slight increase in the rental levels. The increased interest for company expansion and rental of offices mainly by the IT and outsourcing companies led to many new office projects.

According to data offered by Forton, in 2015 were completed more than 105 000 sq.m of offices, most of which however were rented before the office buildings got permission for usage. Due to that fact, the quality provision of offices remains insufficient and cannot answer the serious demand for office premises in Sofia. The average size of the rented offices in 2015 was around 1200 sq.m.

Currently 200 000 sq.m of office premises are being in process of construction in Sofia yet only 70 000 sq.m are expected to be completed in 2016. The active demand for offices and the limited supply of suitable office premises led to a slight increase in the rental levels of the offices of class A, which now start at around 12.5 Euros.