Sofia Office Rentals Going Up

The rentals of Sofia offices have gone up in the last months. The real estate agents confirm that there is a strong interest towards luxurious offices, which are on demand by the outsourcing and the IT companies. The rental prices of offices in Sofia have gone up with 8 % on the average for the first 6 months of 2014, in comparison with the same period last year. Currently, the rental levels are between 10.5 and 12 Euro per sq.m. The rental prices depend on the location, as well as on the additional services offered.

The price increase is due on the offered high-class business buildings in Sofia. At the same time, the office market in Sofia is characterized by high demand for luxurious offices. The outsourcing and the IT companies however, state that only 10 % of the currently available offices in Sofia are of the requested high class AA offices. The available business buildings are only 18 %, while a year earlier they were around 25 %. The real estate agents predict shortage of offices from class A and class B in Sofia. The companies in search of new offices in Sofia are looking for offices up to 150 sq.m. There is no serious demand for Sofia office premises above 200 sq.m. Until the end of 2014 in Sofia will be constructed approximately 800 sq.m. of office premises, which will be placed along Bulgaria Blvd. and Tsarigradsko Schousse Blvd.