The demand on new modern office areas in Sofia seems to grow permanently. Especially international companies, which are endeavoured to expand and search for new locations, increase the high demand rate.
The overall area absorption grew in the second half of 2007 to 103.000 square meters, what corresponds to 77% in comparison to the first half year. The most active branches were IT, market research companies, financial institutions as well as clinical research. As consequence the low vacancy rates and the high demand increased the rent prices in Sofia. At the present moment the average rental prices lay at 15 Euro for square meter. In the city centre they lay between 14.5 and 17 Euro.
For 2008 the brokerage company Colliers does not expect remarkable increases in rental prices, because the awaited new buildings are already previously rented. The vacancy rates should also remain stable till the last quarter of the year. A considerable boost for available areas will be noticeable in 2009 when the large projects, such as Megapark, Serdika Business Center, Benchmark Center or the first block of Sofia Airport Center will be finished. Till then the market will remain underserved.