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Office space in Bulgaria's capital increases to nearly 600 000 sq m. in first half of 2007

Date: 30.08.2007

Office space in Sofia increased by ten per cent in the first half of 2007, compared to the same period of 2006.

Research from Colliers International Bulgaria showed that Sofia now had a total of 606.500 sq m of class A and B office space.

According to the report, most of the office space in Sofia was located in the city’s suburbs. Currently more than 330 000 sq m of office space is being constructed in the suburbs.

Rental prices continued increasing in the first half of 2007. In the suburbs, rent for class A property varies between 12 and 26 euro per sq m, per month.

The office space market is growing, but it is mainly driven by companies’ relocations and expansion rather than new international entrants in the country, Colliers Bulgaria Managing Director Atanas Garov said.

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