Sofia Offices Rental Levels Will Slightly Increase During The Next 3 Years

The rental levels of Sofia offices are expected to go up in the next three years according to the association of the owners of business centers in Bulgaria. In a recent interview, the chairperson of the association stated that year 2015 was very active for the office market in Sofia with a serious demand for spacious office premises. That is so as the large international companies are not only staying in the country, but also they are enlarging their activities, hiring more employees and thus in need of more space.

The offices in Sofia that have been rented in 2015 were much larger than the ones rented 3-4 years ago. In 2015 there were deals signed for the rental of Sofia office of 7000 sq.m. Other serious deals signed were for 3500 sq.m in the Sofia Airport Center, as well as in the business centers Expo 2000, East Trace Center, etc. The fact is that when one company moves to a bigger office in Sofia, her former office is immediately taken by another company. This means that the market goes up and that there is positive development for it ahead of time. That is why several new projects for office buildings are being planned and are expected to be implemented. The current rental levels vary from 10.5 Euros to 13 Euros, but there is prognosis for increase in the rental levels to 14-16 Euros/sq.m in the recent years.