Sofia offices part of the European office market

The general situation on the office premises market in Europe for the first three months of the year is predicting difficult moments for this segment of the real estate properties. In the first quarter of the year, the rental levels of the offices in Europe in general has dropped to its lowest level since 2009. At the same time, the interest towards the offices in Sofia remains stable and several new Sofia business buildings with rental offices are about to open. The reason behind that is the interest of the international companies which are looking to open their offices in Sofia and to outsource their business in the capital of Bulgaria. This is so, as the country offers good office buildings with offices premises of class A, located in the central areas of Sofia city and the presence of many young professionals.

Even so, the tendencies are for more empty office premises throughout Europe, since many companies are still suffering from the financial crises and are trying to optimize the office area they use. According to the prognosis, at the end of 2014 there will be many new offices in Europe and in our case – including Sofia city. Most of the new office projects and business premises are situated in Western Europe and in Central Europe. They will offer all facilities and extras required, but will come at reasonable rental levels, in order to be afforded by the companies. This tendency in Sofia office market and European office market is expected remain until the end of the year due to the ongoing recession.