Revival of The Sofia Office and Business Market

The office and business market in Sofia is in the process of revival. According to the real estate market analysis of leading companies working in the sphere, almost 50 % of the office buildings under construction are already rented out. For the other 50 % of office buildings under construction are being led serious negotiations. The increased demand towards Sofia offices of class A for rent and the stable rental levels in the city makes the office building investors confident.

In spite of the numerous new projects for office buildings, the demand for class A offices in Sofia is serious and the available office spaces at the moment remains limited. That is the reason why so many companies are now signing office rental contracts for office buildings that are still under construction. The facts show that in the third quarter of 2015 more than 167 000 sq.m of offices premises in Sofia were under construction and half of them came already rented.

According to the real estate experts, this office situation will remain the same in the next two years. The serious interest will be from the BPO and IT companies. Currently are being planned office buildings with completion in 2018 and total area of 450 000 sq.m.