No Available Top Quality Sofia Offices, Rental Prices Go Up

The high-quality office premises in Sofia have been running out for quite some time and as a result, the rental prices started increasing reaching pre-crises levels. This means that the prices of the class A office premises in Sofia are heading towards the levels 14-16 Euro/sq.m. Due to the lack of supply, many companies are now ready to get offices in off-plan business centers and wait for them to be completed.

Throughout 2015, the office demand in Sofia has increased by 15-20 % with almost no supply at all in the center. According to the data, the number of the available offices in Sofia in the middle of 2015 has dropped to 25 % and to 2 % in the most sought after places in the capital of Bulgaria. Among the most desired business zones in Sofia are placed around the boulevards “Tsarigradsko Shosse”, “Cherni Vrah” and “Dragan Tsankov”.

The recently completed business center Capital Fort, which is also the tallest building in the country, is renting offices fast. These companies are mainly in the high technologies and the IT sectors, as well as the outsourcing. Under construction is the Trade Center Europe near Sofia Airport, where 50 % of the office premises are already rented out. The office market in Sofia is being driven by large companies looking for more spacious office premises of a class A quality.