50 % Increase in the Offices Demand in Sofia

There is a serious increase in the demand for offices in Sofia and in fact approximately 50 % more office premises have been rented or purchased by the local and the outsourcing companies in the first nine months of the year compared to the entire twelve months of the last year. The main players on the office market in Sofia come from the IT, service and the outsourcing sectors and that demand for offices have led to a renewal of postponed projects for office buildings in Sofia with capacity of 66 000 sq.m.

Another aspect that the real estate agents are pointing out is the fact that the companies are looking for larger and larger office premises as they are hiring a growing number of employees. In other words, if in 2014 the companies were looking for office premises in Sofia of 1000 – 1400 sq.m, now there is a demand for 3000 – 5000 sq.m. The companies that are most active on the Sofia business centers market are the ones that are expanding their business and those that are now outsourcing their activities in Sofia.

All these companies are looking for offices of the highest class AA with excellent location, large office premises and easy access with the available public transport. The rental levels remain the same and they are in between 10 and 13 Euros/sq.m. for the offices of class A in Sofia.