Category: Virtual Offices

Virtual Office in Sofia + Accounting: Setup Guide (2026)

Sofia Offices Editors 24/02/2026

If you want to run a Bulgaria-based company remotely, the most practical combo in 2026 is a virtual office in Sofia plus professional accounting. You get a compliant registered address for company incorporation and ongoing correspondence, and you stay on top of monthly bookkeeping, VAT, payroll (if needed), and annual reporting—without renting a full-time office.

This guide walks you through the complete setup in a clear, step-by-step way, with the specific 2026 realities in mind (including invoice and reporting routines after the euro switch).

virtual office in sofia + accounting

Why a Virtual Office in Sofia Makes Sense in 2026

Sofia is Bulgaria’s administrative and business hub. For foreign founders, a virtual office in Sofia typically delivers three major advantages: compliance, credibility, and convenience—especially when paired with smart company setup planning in Sofia.

Key benefits you actually use

  • Registered business address: Use it for company incorporation and ongoing official correspondence.
  • Mail handling: Receive, scan, forward, and archive letters from institutions, banks, and partners.
  • Professional presence: A central Sofia address can increase trust with clients, suppliers, and payment providers.
  • Flexibility: Add meeting rooms, day office use, or admin support only when you need it.
  • Cost control: Predictable monthly fees without long leases, deposits, utilities, or fit-out costs.

Virtual Office vs. Accounting: Why You Should Bundle Them

A virtual office is not just a “mailbox.” It becomes the operational anchor of your company—especially if you are not physically in Bulgaria. Accounting is the second anchor. When you bundle both, you reduce errors and delays caused by missing documents, unclear deadlines, or slow communication between separate providers (a common issue solved by integrated accountancy support).

What bundling typically improves

  • Faster onboarding after incorporation (banking, tax profile, invoice templates).
  • Cleaner documentation flow (mail arrives at the registered address and is routed directly to accounting when relevant).
  • Lower compliance risk (missed letters from the NRA or other institutions are a common cause of penalties).
  • One point of contact for questions like VAT, invoicing, payroll, and annual statements.

Step-by-Step Setup Guide (2026)

Step 1: Choose the right company structure for remote ownership

Most foreign founders choose an EOOD (single-member LLC) or an OOD (multi-member LLC). These structures are widely used for services, online businesses, consulting, trading, and holding activities. Your choice affects documents, decision-making rules, and how dividends are handled—so it helps to review a broader company formation overview first.

If you are still deciding, start with SofiaOffices’ 2026 company formation guide here: Open a Company in Bulgaria (2026) – Complete Registration Guide.

Step 2: Secure a compliant registered address (virtual office in Sofia)

Every Bulgarian company needs an official seat and address for registration and correspondence. A virtual office in Sofia can fulfill this requirement while also providing mail receipt and administration—see available virtual office options.

For a deeper overview of how virtual offices work in practice, see: Virtual Office in Bulgaria – A Strategic Business Solution.

Step 3: Define your mail handling and proof-of-address workflow

Mail handling is where virtual offices either shine or fail. In 2026, you should set a clear process from day one—especially if your setup depends on reliable mail handling and forwarding:

  • How often mail is checked (daily, several times per week, weekly).
  • Scanning rules (scan everything, scan only official mail, scan on request).
  • Forwarding frequency and courier preferences (international shipping or local pickup).
  • Digital archive rules (folder naming, retention periods, access permissions).

Pro tip: Ask for a simple “official mail alert” rule—so anything from institutions is flagged immediately (this is a core feature of a well-run virtual office workflow).

Step 4: Start accounting onboarding immediately after the address is set

Accounting should not start “later.” The cleanest setups begin accounting onboarding right after you confirm the registered address, so your accountant can prepare a compliant workflow aligned with your post-incorporation steps:

  • Your monthly bookkeeping schedule and document collection routine.
  • Invoice templates aligned with your activity (services, SaaS, consulting, trading).
  • VAT approach (not registered, voluntary VAT, mandatory VAT when thresholds apply).
  • Expense policy (what to keep, how to pay, how to document business purpose).
  • Annual closing expectations (inventory, confirmations, management statements if needed).

For 2026-specific accounting guidance, see: Accountancy Services in Bulgaria (2026): What Foreign Companies Need to Know.

Step 5: Align invoicing with the euro switch rules (2026 reality)

In 2026, your invoicing workflow must match the euro-era routine. In practice, this means your accounting setup should include (and you can cross-check details against the Euro Adoption accounting & VAT checklist):

  • Invoice issuance rules (currency, numbering, mandatory fields, VAT display when applicable).
  • How you store invoices (PDF archive, cloud folders, backup policy).
  • How you handle historical documents issued before the changeover (do not “rewrite” old invoices).

Even if you use invoicing software, have your accountant validate templates early to avoid rework.

Step 6: Banking and payments: prepare for compliance checks

Bulgarian and EU banking compliance increasingly expects consistency between your documents: registered address, company activity, contracts, invoices, and beneficial ownership details—so review what’s typically needed when opening and operating a business bank account.

  • Keep a short “company profile” document (what you do, who you sell to, expected turnover).
  • Prepare standard contracts or terms for your service/product.
  • Ensure invoices match the activity stated in incorporation documents.
  • Use a clear audit trail for incoming payments (who paid, what for, invoice reference).

Step 7: VAT registration (only when strategic or required)

VAT is not automatic. You typically choose between:

  • No VAT (initially): Common for early-stage service businesses that sell outside Bulgaria and are below thresholds.
  • Voluntary VAT: Common when you trade B2B in the EU, need VAT credibility, or your partners require VAT registration.
  • Mandatory VAT: Applies when legal conditions are met (your accountant monitors this based on turnover and activity).

VAT is one of the most common areas where DIY setups go wrong. If your business sells cross-border services or goods, get a written VAT plan.

Step 8: If you import/export, handle EORI early

If your business involves customs (imports or exports outside the EU), you may need an EORI number. Many founders discover this too late when shipments are blocked at customs.

Use this practical guide: EORI Registration in Bulgaria (2026): Complete Step-by-Step Guide.

Step 9: Decide whether you need payroll or director management

Not every company needs employees. But you should plan for at least one of these realities—especially if euro-era payroll updates apply to you (see Payroll Services in Bulgaria (2026)):

  • Director/manager status and how it’s documented.
  • Payroll setup if you hire locally or need employment contracts.
  • Expense reimbursements and rules for business travel.

Your accountant should clarify what monthly filings apply in your exact scenario.

Step 10: Keep annual compliance boring (the goal)

Annual compliance becomes easy when monthly processes are consistent. Build your “boring” routine—and keep it aligned with local accounting requirements:

  • Monthly: send invoices, bank statements, receipts, contracts, and expense notes on a fixed date.
  • Quarterly (if applicable): VAT reviews and reconciliations.
  • Annually: inventory/asset confirmation (if relevant), annual financial statements, and tax declarations.

Common Mistakes Foreign Founders Make (And How to Avoid Them)

Mistake 1: Buying the cheapest virtual address with weak mail handling

  • Fix: choose a provider that scans, flags official letters, and has a clear forwarding process.

Mistake 2: Treating accounting as “later”

  • Fix: start onboarding immediately after the registered address is secured.

Mistake 3: Invoices that don’t match the company activity

  • Fix: align invoices, contracts, and declared activity before you start billing clients.

Mistake 4: VAT confusion for EU and cross-border work

  • Fix: get a VAT plan in writing based on where your clients are and what you sell.

Mistake 5: Missing official letters from institutions

  • Fix: use a virtual office that alerts you quickly and keeps a digital archive.

What can SofiaOffices do for you?

SofiaOffices supports foreign founders and international companies with an integrated setup: virtual office in Sofia + accounting + company formation support, so you can operate remotely while staying compliant (see the full accountancy services overview).

  • Virtual office in Sofia: compliant registered address, mail receipt, scanning, forwarding, and optional admin support.
  • Accounting services (2026-ready): monthly bookkeeping, VAT filings (when applicable), annual reporting, and practical guidance for foreign owners.
  • Company formation support: a structured process for setting up an EOOD/OOD and getting operational fast.
  • Business expansion extras: support content for customs/EORI and relocation/business presence topics.

Start here based on what you need most:

Mini Checklist: Virtual Office + Accounting Setup (Copy/Paste)

  • Choose company type (EOOD/OOD) and confirm ownership/management structure.
  • Secure a Sofia virtual office address and define mail scanning/forwarding rules.
  • Start accounting onboarding: invoice templates, document workflow, deadlines.
  • Confirm euro-era invoicing routine and archive structure.
  • Decide VAT strategy (none/voluntary/mandatory monitoring).
  • Prepare banking compliance pack (company profile, contracts, invoice samples).
  • If trading goods internationally, plan EORI early.
  • Set monthly “send documents” date and stick to it.

FAQ: Virtual Office in Sofia + Accounting (2026)

Can I register a Bulgarian company using a virtual office in Sofia?

Yes. A virtual office can provide the registered seat and address required for incorporation and official correspondence, without renting a physical office (see how virtual offices work in Bulgaria).

Do I need a physical office to run my company legally?

Usually no. Many foreign-owned companies operate fully remotely with a virtual office address and professional accounting support, using a structured company setup process.

How fast can the setup be completed?

Timelines depend on documents and onboarding speed, but the most efficient process is: secure the registered address first, then immediately start accounting onboarding while incorporation steps are completed (the same sequence used in the company formation workflow).

Is accounting really necessary if my company has no activity yet?

Even low-activity companies usually have compliance expectations. The safest approach is to set up accounting properly from the start so your filings, records, and annual reporting remain consistent (see what’s typically included in accountancy services).

What if I want to relocate later and work from Bulgaria?

Many founders start remotely and relocate later. If you are exploring residency options, you may find this helpful: A Digital Nomad Visa in Bulgaria – How to Obtain It?.

Conclusion

A Virtual Office in Sofia + Accounting is the most practical “remote-first” foundation for a Bulgarian company in 2026. The address keeps you compliant and reachable by institutions; accounting keeps your invoices, reporting, and tax position clean—especially under the euro-era accounting rules. When you set both up together, you avoid the classic foreign-founder problems: missed letters, VAT mistakes, mismatched documents, and slow operational starts.

If your goal is a smooth, compliant, and scalable Bulgaria setup, start with the core building blocks and keep the process boring—because boring compliance is profitable compliance (and that’s exactly what a solid virtual office foundation helps you do).

Thumbnail Image Prompt (No Text, Hyper-Realistic)

Copy/paste this prompt into your image generator: (and if you also need a real Sofia business address to match the vibe, you know where to start)

  • Hyper-realistic photo, a confident international entrepreneur (30s) standing in a modern Sofia business district, holding a slim laptop and documents folder, subtle glass office buildings in background, morning natural light, shallow depth of field, professional business attire, friendly approachable expression, realistic skin texture, cinematic realism, no logos, no text, no watermark, high resolution, editorial photography style, 16:9 composition, sharp focus on person
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Virtual Office in Bulgaria – A Strategic Business Solution

Sofia Offices Editors 20/12/2025

A virtual office in Bulgaria has become one of the most effective strategic solutions for foreign entrepreneurs, freelancers, startups, and international companies seeking a cost-efficient and legally compliant presence in the European Union. Bulgaria offers a business-friendly environment combining low operating costs, a favorable tax system, and full EU market access, making it a preferred jurisdiction discussed frequently in international business expansion analyses.

What Is a Virtual Office in Bulgaria?

A virtual office in Bulgaria provides a registered business address, mail handling, and administrative support without requiring physical office occupancy. This solution is particularly suitable for foreign-owned companies that require a local address for incorporation, VAT registration, banking, and official correspondence, as outlined in corporate compliance frameworks.

virtual office in bulgaria - a strategic business soltion

Key Components of a Virtual Office

  • Registered legal address in Bulgaria
  • Mail receipt, scanning, and forwarding
  • Use of address for company registration and VAT
  • Professional business image and credibility
  • Optional phone answering and administrative services

Why Choose Bulgaria for a Virtual Office?

Bulgaria is consistently ranked among the most attractive EU jurisdictions for business efficiency. Its strategic location, low costs, and stable legal framework make it a preferred destination for entrepreneurs from Europe, the UK, the USA, and beyond, a trend highlighted in European market overviews.

Business Advantages of Bulgaria

  • 10% corporate tax – one of the lowest in the EU
  • Full EU and EEA market access
  • Low operational and administrative costs
  • Stable banking system and fintech-friendly environment
  • Highly skilled, multilingual workforce

Who Needs a Virtual Office in Bulgaria?

A virtual office solution is suitable for a wide range of business profiles. Whether launching a new company or expanding internationally, it offers flexibility, credibility, and regulatory compliance, particularly relevant for companies entering the EU market as discussed in cross-border business strategies.

Ideal for the Following Business Types

  • Foreign entrepreneurs opening a Bulgarian company
  • Startups testing the EU market
  • E-commerce businesses and online service providers
  • IT companies and freelancers working remotely
  • Holding companies and consultants

Legal Compliance and Company Registration

Bulgarian legislation requires every registered company to maintain a local legal address. A virtual office fully satisfies this requirement and can be used for company incorporation, VAT registration, and correspondence with the National Revenue Agency and other authorities, a requirement examined in regulatory compliance analyses.

Virtual Office and VAT Registration

  • Valid address for VAT and OSS registration
  • Accepted by Bulgarian tax authorities
  • Suitable for EU cross-border operations

Cost Efficiency Compared to Physical Offices

Traditional office rental in Bulgaria typically involves long-term commitments, utilities, maintenance, and staffing costs. A virtual office eliminates these expenses while preserving a professional corporate presence, a cost-efficiency model frequently compared in office market cost analyses.

Cost Benefits

  • No long-term rental obligations
  • No utility or maintenance costs
  • Predictable monthly pricing
  • Scalable services as your business grows

Virtual Office in Sofia – The Best Location

Sofia is the economic and administrative center of Bulgaria. A virtual office in Sofia provides maximum credibility, direct access to institutions, and a prestigious business address recognized by banks, partners, and authorities, as highlighted in capital city market insights.

What Can SofiaOffices Do for You?

SofiaOffices delivers comprehensive business solutions for foreign entrepreneurs and companies establishing operations in Bulgaria. Our virtual office services ensure legal compliance, operational reliability, and long-term flexibility, aligned with best practices described in international business support models.

Our Virtual Office Services Include

  • Prestigious registered address in Sofia
  • Mail handling, scanning, and secure storage
  • Company formation assistance
  • Accounting and VAT services
  • Office rental and coworking solutions

Helpful Business Resources

Explore additional in-depth resources related to doing business in Bulgaria through our expert business blog.

Conclusion

A virtual office in Bulgaria is an intelligent solution for modern businesses prioritizing efficiency, compliance, and scalability. With SofiaOffices as your local partner, you gain more than a registered address — you establish a solid foundation for sustainable growth in the European market.

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Sofia virtual offices on demand

Mina Boycheva 26/06/2013

A certain number of companies have decided to save on rent and make virtual offices in Sofia instead of onsite offices based in the heart of Sofia or in the modern business centers. These are new international companies that are thinking to settle in Sofia and register a company in Bulgaria and existing small companies that can do their work online and do not need a regular office. The virtual offices in Sofia are a special service that includes the right to use an existing central and prestigious address, telephone landline and even a personal company assistant. Other services are offered as well including checking and forwarding of the emails, receive of fax messages, etc.

A certain number of companies have decided to save on rent and make virtual offices in Sofia instead of onsite offices based in the heart of Sofia or in the modern business centers. These are new international companies that are thinking to settle in Sofia and register a company in Bulgaria and existing small companies that can do their work online and do not need a regular office.

The interest towards the services of the Sofia virtual offices increased significantly in the last years of the global financial crises. Some of the clients also rent an office per day or conference halls for a short period of time. In this way they have the freedom to do their job and not pay for a full-time office and all its expenses. The rental levels of the virtual offices depend on the type of the services required, the short-term offices rented and the period during which the office will be used. The rental of these offices for a day or a week includes the expanses made on electricity, water, office supplies.

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Sofia offices rental levels are going up

Mina Boycheva 18/03/2013

In year 2012, the office market in Sofia city was characterized with dynamics as far as the renting of administrative premises is concerned. The number of the rented offices last year exceeds the number of the offices that have been taken in 2011 and 2010. The total square surface of the rented offices in Sofia for year 2012, the capital of Bulgaria, is estimated to be 76 500 sq.m. On these basis have been calculated a 30 % increase in the rental levels of the office premises and 1.5 sq.m increase in the offered office premises area. Currently, in the beginning of year 2013, there are 330 000 sq.m. of offices offered on the market, with most of the business premises being concentrated outside the city center, in the business zone of Sofia.

The total square surface of the rented offices in Sofia for year 2012, the capital of Bulgaria, is estimated to be 76 500 sq.m.

The main factor that has influence on the rental market of Sofia offices is the unstable economic situation in the country. Because of that, two offices out of ten are empty and in search of a company to rent them. Later in 2013 and in 2014 there will be several big projects for office buildings that will be released, like Bulgaria Tower with its 20 000 sq.m, followed by Vertigo Business Center with its 18 000 sq.m. In the end of 2014, the office market will welcome three other projects City Tower Capital Fort and Millennium Centre, which are expected to add another 100 000 sq.m. of office premises. These business buildings will be constructed according to the latest technologies and will have all extras required for making business. The offices there are expected to be rented or purchased by registered IT companies, off-shore and outsourcing companies.

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Getting the right office in Sofia

Mina Boycheva 10/01/2013

Once you have registered your company in Bulgaria and you are planning to open your own office in Sofia, you will face the challenge to get the right one for your needs. You can run a foreign company, an outsourcing company or another type of company, but definitely you will need a good office. The small companies and businesses, which do not know the Bulgarian market well, will most probably be afraid to proceed and open an office in Sofia straight away. Most probably they will start with securing a virtual office before they open an office in Sofia or another major city in the country. The services of the virtual offices are perfect for the aim of the small foreign companies to get an idea about the market, the current business situation, to arrange some meetings, even to make interviews with future employees. This is a great option for these companies that allows them to be flexible, to know the market and morals and ultimately to decide whether to step on the market or not.

The small companies and businesses, which do not know the Bulgarian market well, will most probably be afraid to proceed and open an office in Sofia straight away. Most probably they will start with securing a virtual office before they open an office in Sofia or another major city in the country.

Those companies that have already done their research and have decided to be presented on the Bulgarian market are trying to rent offices. The location and type of the offices are usually directly related to the activity of the newly registered company. These could be a large office of the “open space” type, set in a modern business building in the business zone of Sofia, but it can also be a representative office in the center. The options are varied according to the demand and the business needs. In the capital Sofia, there are many and varied options for renting an office or buying an office. The office rental prices are stable and significant changes are not expected. The managers of registered companies are able to choose between offices in the center of the capital along “Vitosha” Blvd., “Dondukov” Blvd. and “G.S. Rakovski” Street, next to all administrative and government buildings, as well as a number of bank offices. The offices in the center and those in the top neighborhood “Lozenets” are usually scattered in different buildings or gathered in several major business centers. The second most logical option to rent an office in the Business Park, which is located in the “Mladost” District next to the ring road. There are focused most of the offices of the large corporations in Bulgaria.

In the capital Sofia, there are many and varied options for renting an office or buying an office. The office rental prices are stable and significant changes are not expected.

Besides these major office locations in the capital were built many other business complexes along “Bulgaria” Blvd. and “Tsarigradsko Schousse” Blvd. near the big shopping center “The Mall”. In general, during the last years, the demand of the new companies in Bulgaria is for first-class offices with parking and other amenities. There are many companies that are already established on the Bulgarian market, which also looking for new offices. They are usually from branches which are not so much affected by the crisis, namely telecommunications and information technology, insurance and financial services sector, energy, pharmaceuticals, service centers and call centers. These companies come from office buildings with lower quality and level of service, and a worse location that the options available now.

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Virtual Offices in Sofia: the services that you might get

Mina Boycheva 11/12/2012

Using a Virtual Office in Bulgaria is easy, comfortable and not expensive as you might have initially thought. The virtual offices have emerged as a modern way of doing business and getting professional representation of your business in Sofia when you are still becoming acquainted with the business atmosphere here and are not yet sure if you want to open a regular office and to hire personnel. By getting a virtual office one can get a business presence with no need of physical presence. Further, one can have plenty of professional services at a very low cost than the one for the traditional offices services. This is also a way to check the market and the local economic situation and not to lose too much finance or register a company, if things happen not to work properly for you here as you have previously planned.

Using a Virtual Office in Bulgaria is easy, comfortable and not expensive as you might have initially thought.

The services that the virtual offices present are numerous and are all dedicated to the professional presentation of your company and business in Bulgaria. They might include, but are not limited to the services enumerated below. The most useful service is a receptionist that will answer the calls directed to your company in a professional way with the name of your company. Then, the receptionist will transfer the call to your office or mobile or will leave a message for you with information, so that you can contact the person who wanted to speak with you later. Thus, the clients receive the services for a full-time receptionist that will present your company in the way you want it. The receptionist will be in charge of processing your calls and also of distributing your correspondence. The calls for your company will come through a direct telephone line that will be used only for the purposes of your company. You as a client will have full access to that telephone number, but it will not interrupt your meetings and your work. In addition to that, there will be a voice mail, so that no call or message are lost if they are received after the regular business hours. The calls and the messages will be taken by the receptionist and then forwarded to you at the end of the day or at the end of the week – this depends on you.

Besides own telephone number and a professional receptionist, clients who have virtual offices will get a reputable business address, usually in the very center of Sofia city.

Besides own telephone number and a professional receptionist, clients who have virtual offices will get a reputable business address, usually in the very center of Sofia city. This will be an official company address, which can be used on your business cards, brochures advertising your business, etc. The emails, the mail and the packages from the couriers to your company can be forwarded to you in the way you want it. In case that you need to meet with potential partners, arrange interviews to recruit people or make a presentation, then your company can have access to a meeting room with all facilities needed, including a wireless connection. You can use these services as long as you want until you decide to register your own company in Bulgaria.

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Outsourcing your business in Bulgaria

Mina Boycheva 07/12/2012

Bulgaria, and especially its capital Sofia, is among the tempting destinations for the big companies that want to outsource their business in order to reduce the expenses and increase their profit. The process of outsourcing is not new and the general idea is for the big companies to move to emerging countries with stable economy. Since Bulgaria has very solid economy factors, the country faces an increased market share of the outsourcing companies. All of these outsourcing companies are focused on cost efficiency and the minimum risk, aiming at knowledgeable, highly-educated people who can work for them for a salary much lower than they could expect from the workers in the well developed economies. It seems that people living in the capital Sofia, as well as those in the other big cities of the country answer to all these criteria.

Bulgaria, and especially its capital Sofia, is among the tempting destinations for the big companies that want to outsource their business in order to reduce the expenses and increase their profit.

Companies that want to outsource their business to Bulgaria are pleased to find out that here they can count on professional services such as fast company formation, audit and accounting when needed, tax advises, payroll administrations, as well as human resources, regular office services, virtual offices, etc. By using these services in Sofia and other big cities of the country, big companies get increased flexibility in making business, planning strategies and arranging the costs. They also get the chance to make changes in the capacity of work. Thanks to that flexibility, these companies are ready to respond to the main changes on the market.

People in Bulgaria are not only eager to work, but they are also well-educated and they make efforts to improve and add to their knowledge through various professional trainings, computer and language courses.

Of course, there is much more to the outsourcing process than that. Most of the companies, both small and big enterprises, move their business practices to Bulgaria as they have fewer expenses for people and equipment. People in Bulgaria are not only eager to work, but they are also well-educated and they make efforts to improve and add to their knowledge through various professional trainings, computer and language courses. The good education of the people in Bulgaria is a national policy. Thus, the companies that decide to outsource their business to Sofia and register a company here according to the Bulgarian company formation regulations will eventually become more competitive on the market and will allow them to enjoy a better market value.

Companies that want to outsource their business to Bulgaria are pleased to find out that here they can count on professional services such as fast company formation, audit and accounting when needed, tax advises, payroll administrations, as well as human resources, regular office services, virtual offices, etc.

The outsourcing companies are now able to try the local market at first by using a virtual office. Once they figure out how the business here works, they are welcome to rent one of the available Sofia offices in the big business centers. Another option for them is to buy such an office. However, if they do not plan to work in the country for long years and if they do not know how much they will expand, a better way is to rent an office in Sofia and move to a bigger one if needed. The business centers that are available in the capital are numerous, all of them being very modern and equipped with all necessary facilities for a smooth working process.

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Demand for offices in business buildings of highest quality

Mina Boycheva 23/04/2012

During the second half of last year the supply of modern office premises in Sofia grew by over 12%. This gave grounds for the real estate agents specializing in the rental and sale of offices in commercial buildings, to make prognoses for an increased interest in quality commercial and business properties in year 2012. According to the expectations of the agents, the greatest will be the interest shown by companies that are working in the spheres of Internet technology and those working in the pharmaceutical sector. In other words, the companies will search for new and modern offices for their business will be mainly from those sectors that are not affected by the crisis. These companies are generally looking for offices with an area of 1000 sq.m, placed near the main boulevards.

During the second half of last year the supply of modern office premises in Sofia grew by over 12%. This gave grounds for the real estate agents specializing in the rental and sale of offices in commercial buildings, to make prognoses for an increased interest in quality commercial and business properties in year 2012.

Currently, the market shows that almost three quarters of the available office space in the capital Sofia are concentrated in the suburbs and only a quarter of them are located in the city center. In general, the number of the office buildings in the high Class A has increased significantly, but not all of them fully comply with all indicators of the class A offices. Since there is a demand for Class B offices as well, there is such supply on the market. Offices from Class B are in the focus of the smaller, often local companies. Another type of offices on the market, that face an increased interest are the virtual offices, which are preferred by the emerging local and foreign companies on the Bulgarian market, which wish to get an idea about the market.

Currently, the market shows that almost three quarters of the available office space in the capital Sofia are concentrated in the suburbs and only a quarter of them are located in the city center.

The prognoses of the office realtors are for stability in the rental levels of the offices, as well as a steady demand for good offices in business buildings of Class A, which will be released on the market this year. The demand for this type of high quality offices will be strengthened by the fact that they meet the special requirements of the international companies, which intend to enter the Bulgarian market.

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More office deals in the business buildings in 2012

Mina Boycheva 09/04/2012

According to the prognosis of the realtors, the real estate market in 2012 will be more active if renting and purchasing of offices in the new and luxurious office buildings in the capital is concerned. Moreover, the professionals are optimistic that the city of Sofia will attract the solid investors from UK, USA and Greece, while there will also be an increased interest from established investors in Bulgaria. The analyses of the people who work in that sphere shows that these investors are willing to take higher risks, or wish to purchase office buildings under construction and to provide for their subsequent completion and rental.

According to the prognosis of the realtors, the real estate market in 2012 will be more active if renting and purchasing of offices in the new and luxurious office buildings in the capital is concerned.

The prognoses of the brokers, who are specialized in the rental and the sale of offices, are that in year 2012 this sector of the real estate market will not only reach the level of the previous year, but will surpass it. Among the most successful deals in Sofia in year 2011 were the sale of “Mall of Sofia” and “Business Centre Bells”, as well as the “European Trade Center”. It should also be mentioned that a large and modern office in the new office building “East Tower” was purchased for the outsorcing branch of the investment company “Bernard Investments” with headquarters in France.

The investments made in Eastern and Central Europe last year have reached 6 billion Euro and it is expected that a similar share of investments will be made this year.

The consulting firm Cushman & Wakefield published a report at the beginning of the year, which states that besides Bulgaria the other attractive markets for commercial real estate properties are the following countries – Hungary and the Czech Republic, Slovakia and Estonia, Croatia and Russia. The investments made in Eastern and Central Europe last year have reached 6 billion Euro and it is expected that a similar share of investments will be made this year. We should also mention the continued interest of the investors in the virtual offices, the use of which helps them find their way to enter the market before purchasing a real office.

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The office construction in Sofia at a slower pace

Mina Boycheva 11/03/2012

Over the past few months the building companies in the capital were occupied mainly by finding new tenants for the existing office buildings and business centers they have built, rather than making new investments. In other words, the trend that is clearly seen is for a slow pace market when office construction is concerned and a focus on the newly established office areas in Sofia. However, the capital remains the main city for the large office projects and continues to be a preferred destination for the big foreign companies who now enter the Bulgarian market.

The capital remains the main city for the large office projects and continues to be a preferred destination for the big foreign companies who now enter the Bulgarian market.

Currently, there is a significant number of the developers who do not release their new office buildings before finding tenants for them and signing a long-term contract. The new tenants are often companies that come from low-end office buildings in search of better conditions and companies working in an area unaffected by the crisis and consequently expanding its staff. These days the rental levels of Sofia offices from the middle and the high class is about 8-11 Euro per square meter as the rent levels of the top offices remain stable.

The office market in Sofia faces bold relocation of companies in search of a much better quality, but possibly at a reasonable price.

The office market in Sofia faces bold relocation of companies in search of a much better quality, but possibly at a reasonable price. Naturally, the offices of high quality and a central location keep the high interest of the companies, while the offices that offer not so good conditions remain empty for a longer period of time. In the end of the last year and in the beginning of this year, there is a high interest in the option of renting virtual offices, since this service is becoming more and more popular among people with flexible businesses.

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