Sofia offices: from July to September

The trend of activity on the office market in Sofia that was valid for the first six months of the year, continued during the third quarter of 2013 as well. At the end of September, the number of the deals and contracts that were signed reached the total number of all rental office deals for the previous year. The tendency with the rental of offices is for larger number of deals for a smaller amount of money. The total amount of the recently rented offices from class A and B in the third quarter of the year have reached 16 500 sq.m., which is a decrease of 15 % compared to the second quarter. The total amount of all Sofia office premises of class A and class B for the first nine months of 2013 reached almost 50 000 sq.m.

In the first six months of the year the number of the available office premises from class A in Sofia that correspond to the requirements and the international qualifications have dropped from 21% to 14%. As there is a significant interest towards this type of office premises, it is expected the number of the available office premises of class A to drop even further by the end of the year. The major international companies that are opening offices in Sofia show interest towards the areas around Bulgaria Blvd. and Tsarigradsko Schousse Blvd., Sofia Airport region and the ring road. The average rental levels in the office market segment remain stable and this tendency is expected to proceed.