The Number of the Available Sofia Offices – Still Insufficient

The tendency towards the reduced number of available offices in Sofia is remaining strong, confirming the overall need of new and more spacious office premises in the Bulgarian capital. The office projects that are under construction and expected to be completed in 2017 are around 110 thousand sq.m. Motivated by the positive tendency on the market, the investors have started several new projects, thus adding another 90 000 sq.m of office premises on the market.

The high-quality office buildings in the periphery of the city and the popular business zones are attracting many new tenants. At the same time, the options for increasing the number of the offices in the central zones of the city are reduced. This means that the rental levels there are about to go up. The main companies looking for offices come from the IT and the outsourcing sector and the rental levels for the offices of class A they are paying for are between 12 and 13 Euro/sq.m.