Sofia offices of class A and B and their rental levels

The rental levels of Sofia offices from class A and B have been stable during the first six months of this year. This tendency is expected to remain the same until the end of the year. The serious demand for high-quality Sofia offices has led to a drop in the difference between the offer price and the contract price or in other words, the rental contracts for offices in Sofia are being signed at the asking price. Since there are no many new office projects that are waiting to be started, the number of the available offices of high class in Sofia is dropping. In the middle of 2013 the available office premises in Sofia were approximately 325 000 sq.m., most of them concentrated in the outskirts of the city, close to the ring road.

The available Sofia offices of class A are approximately 24 % of the market share, while the Sofia offices of class B – the lower standard of offices, are approximately 17% of the available office premises in Sofia. The companies that have been looking for offices in Sofia during the first six months of the year come from the IT sector and the outsourcing sector. These companies have rented more than 60% of the rented offices for that period of the year. The average rental levels for the high-class offices in Sofia in the very center of the city are around 16 Euro per sq.m. At the same time the average rental levels of the offices in the outskirts of Sofia are around 9 Euro/sq.m.