The current office market situation in Sofia

The real estate managers dealing with Sofia office premises confirm that there was an increase of 45% in the rental of offices in the capital of Bulgaria during year 2013. The increase in the interest towards the office buildings in Sofia was due to the expansion of certain companies that already take a place on the market. Realtors predict that this tendency will continue and during the current year the rented office premises of class A in Sofia will exceed the ones rented in 2013 which reached 110 000 sq.m. In 2014 the real estate agents predict that the office market will get new tenants – modern companies with serious plans for development and growth in the next two years. Currently are available enough office premises in office buildings of class A, which correspond to the international requirements, even though their number is decreasing with fast pace. This is so as there are not many new projects for the construction of office buildings of class A in Sofia.

Which are the requirements of the most active companies on the rental market of Sofia premises? The international companies which are relocating their business and are outsourcing part of their activities in the capital of Bulgaria work in the sphere of pharmacy, telecommunications and energetics. These outsourcing companies are looking for Sofia office premises with size that varies from 200 sq.m. up to 9000 sq.m. The tenant companies require flexible conditions on the rental contracts, functional layouts, proximity to trade areas, service zones and public transport. Such projects are Serdika Offices, European Trade Center, and Bulgaria Mall.