{"id":20492,"date":"2019-09-08T16:44:32","date_gmt":"2019-09-08T13:44:32","guid":{"rendered":"https:\/\/investsofia.com\/?p=20492"},"modified":"2019-09-09T01:14:03","modified_gmt":"2019-09-08T22:14:03","slug":"nearly-107000-m2-new-office-space-sofia","status":"publish","type":"post","link":"https:\/\/investsofia.com\/en\/nearly-107000-m2-new-office-space-sofia\/","title":{"rendered":"Nearly 107,000 m2 New Office Space in Sofia"},"content":{"rendered":"<div id=\"modal-ready\"><p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\"size-medium wp-image-20489 alignleft\" src=\"https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-300x170.jpg\" alt=\"\" width=\"300\" height=\"170\" srcset=\"https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-300x170.jpg 300w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-768x434.jpg 768w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-1024x579.jpg 1024w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-600x339.jpg 600w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-258x146.jpg 258w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-50x28.jpg 50w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n-133x75.jpg 133w, https:\/\/investsofia.com\/wp-content\/uploads\/2019\/09\/64573932_349612059062502_6673691631029321728_n.jpg 2016w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>The new office space in Sofia completed in the first half of 2019 was about 107,000 m<\/span><span style=\"font-weight: 400;\">2<\/span><span style=\"font-weight: 400;\">, according to data from Cu\u0455hman &amp; Wakefield Forton. The trend for leasing buildings still under construction continues to dominate the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The total built stock of class A and B space reached 1.925 million m<\/span><span style=\"font-weight: 400;\">2<\/span><span style=\"font-weight: 400;\">, and IT and BPO companies remain the most active tennants on the market. Because of their dynamic growth, they seek larger spaces or spaces to bring their units together.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the first six months of the year, the available office space in Sofia was about 9.9%. It is expected activity on the lease market to grow over the third and fourth quarter, and the long-term forecast is for a slight increase in the available spaces, which will then lead to a reduction in asking prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The assessment of \u0421u\u0455hm\u0430n &amp; W\u0430k\u0435f\u0456\u0435ld I F\u043ert\u043en is that the office space market in the capital has entered a mature phase with a steady demand and activity. There is a slight increase in unoccupied premises of Class B since tenants are interested in improving their working environment by migrating to Class A space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the second quarter of 2019, the office space under construction in Sofia 404,000 m<\/span><span style=\"font-weight: 400;\">2<\/span><span style=\"font-weight: 400;\">. According to Cushman &amp; Wakefield Forton, 90% of these projects are located on key boulevards and in areas with good transport connections.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rents for prime office space in Sofia were stable in the first quarter \u2013 EUR 15\/m<\/span><span style=\"font-weight: 400;\">2<\/span><span style=\"font-weight: 400;\"> for central business districts (CBD) and EUR 13-14 \/ m<\/span><span style=\"font-weight: 400;\">2 <\/span><span style=\"font-weight: 400;\">for non-CBD areas. Prime office yields remained stable at 7.5-8% in the first half of 2019.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find all data about the first half of the year of \u0421u\u0455hm\u0430n &amp; W\u0430k\u0435f\u0456\u0435ld I F\u043ert\u043en <a href=\"https:\/\/cwforton.com\/uploads\/research2016\/BULGARIAQ22019OfficeMarketbeatSnapshot.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/span><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>\u00a0 The new office space in Sofia completed in the first half of 2019 was about 107,000 m2, according to [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":20490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[169],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.14 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nearly 107,000 m2 New Office Space in Sofia | Sofia Investment Agency<\/title>\n<meta name=\"description\" content=\"\u00a0 The new office space in Sofia completed in the first half of 2019 was about 107,000 m2, according to data from Cu\u0455hman &amp; Wakefield Forton. 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