Blog Category: Offices for rent

This year started with more than twenty percent vacant office space in Sofia. According to the prognosis, many companies are about to change their contracts and many new companies are to come on the market in the coming months. These companies are expected to be from the IT sector and different outsourcing companies. The contracts that are expected to be changed were signed during the crisis, so tenants are expected to have many demands for amendments thereto. This will be so, because companies today can easily find a better alternative and modern office space. The virtual offices in Bulgaria are also attracting considerable attention, particularly because of t...

Currently in the city of Sofia could be found more than 330 000 sq.m of offices available for rent. Among the office buildings there are some business centers which can not find long term tenants because of their poor location or lack of parking spaces. At the same time there is a strong interest in green offices and the high quality offices, which have provoked the interested of the international companies that have entered the Bulgarian business market. That is why the vacant offices of the highest class A are not many. This creates a niche for building of Class A office building projects, that are expected to be easily rented or purchased in the near future....

The offices in the Sofia business centers offer stable rental levels. The prices of the office premises of the prestigious class "A" cost about 12 euros per square meter for rent, while those of class "B" cost approximately 8 Euros per square meter. There are many companies that are trying to renegotiate and thus to reduce the level of their rent. There are also companies that benefit from lower prices and move from lower to higher class offices, mainly in the offices of the class "A" type. The available offices in the capital are about 25%.

For some time now, the offices in Sofia are in the focus of interest of the major outsourcing companies. These companies provide many new jobs in Bulgaria, and are renting a great part of the office space in the capital. The large companies usually register companies according to the requirements of the local laws, and thus step on the local market. They often create new job positions by taking advantage of the difference in the levels of wages in Sofia and those in the more developed economies. This, of course, is very good for the office market in Sofia at a time when most Bulgarian companies are shrinking their consumption and staff and transfer to smaller o...

The sale of offices in Sofia has been very peaceful in the first nine months of the year, even though the supply was serious. The prices however remained high and no actual discounts were made by the owners and developers, with the biggest reduction being ten percent. Even with these price discounts, the offices kept their prices of 1500 Euro/sq.m, to even more than 2000 Euros/sq.m for the class A office buildings. As a result there were almost no deals for sale of offices in the current year, which comes to show that the prices asked for are not realistic. The main driving factor for that sphere of Sofia offices is the price.