Interest towards Sofia and other European offices

The construction of new office premises in Europe is among the investments of highest priority on the property market on the continent. This was shown from an analysis of the company Patrizia Immobilien, cited by the news web portal investor.bg. It is believed that by year 2017, there will be 11 million sq.m. of new offices in the European countries. This will happen regardless of the high levels of unused office premises in many parts of the old continent in the last few years. The city that is most active when it comes to construction of office premises is Warsaw, where are expected to be constructed 900 000 sq.m. of brand new office buildings. Serious construction of office centers is to be seen in the city of Sofia as well, even though the levels of construction are not that high.

The key investors are focusing on relatively low-risk markets such as London. To get more profit however, they can focus on markets with a higher risk like the ones in Dublin, Athens and Madrid, which are currently experiencing economic difficulties. The European cities that have highest percentage of unused office premises include also Barcelona and Budapest. More stable are the office markets in Germany and the four biggest cities there – Berlin, Munich, Frankfurt and Hamburg. In Sofia city, there is an interest towards the offices of class A, which have good location, easy access and many extras.