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According to Cushman & Wakefield, demand for commercial property rentals in Bulgaria’s major cities, Sofia, Plovdiv, Varna and Burgas, rose significantly in the first half of 2015. The increase compared with the same period in 2014 was 40%.
Rental requests reached a 10-year record of 100,000 m², compared with 70,000 m² rented in the same period in 2014. Both total leased space and the average area per transaction increased. In the first half of 2014, tenants took an average of 1,000–1,400 m²; in 2015, this rose to 3,000–5,000 m².
Forton analysts report that more than 60% of tenants are telecommunications and business outsourcing companies. They generally need high-quality offices larger than 1,000 m², in good locations near major streets and metro stations.
Office rents range from €6 to €12.5 per square metre. In Sofia, which accounts for around 90% of demand, they are €9–12.5 per square metre. In Plovdiv, Varna and Burgas, they are €6–8.
