The optimistic prognoses for the development of the office property market in Bulgaria for 2015 proved correct. In the first trimester of the year, the new contracts for this type of real estates has increased with 10 percent, compared with the same period of 2014.
The interest towards office properties is fed by two major trends.
The one is, of course, the business. Both IT and outsourcing companies are expanding in Bulgaria, and the need for having more suitable spaces is on the rise. Some of them are even opening second offices outside Sofia, preferably in Plovdiv, but also in big cities like Varna and Burgas. Additionally, there are also companies who have been previously scattered all over Sofia, and now strive to bring all of their departments under one roof, hence optimising working process and expenses.
This is mirrored by the fact that in the autumn of 2015 the rental leases of many companies are expiring, and many of them are now searching for a new, more comfortable, or cheaper, or modern, home for their business.
Indeed, 2015 will see the opening of several office buildings in Sofia. It is a lot, after several years of stagnation in this segment of the property market, but even with this addition the demand is likely to be bigger than the supply.
The expansion of the metro system and the continuous development around Business Park Sofia and the southern suburbs have turned the area into the most preferred in the capital for offices. There is a strong logic in this – the location is easily reached, and there are amenities like parking lots, plus shopping centres and even luxurious residential complexes. The region around the airport is also becoming increasingly prospective for settling a business, basically for the same reasons, minus the luxurious residential properties.
However, other parts of Sofia also deserve attention, although they have been overlooked so far, like Obelya, or have seen the departure of clients in the past few years, like the centre. But these parts of Sofia indeed have a lot of potential and, with the proper development of the city infrastructure, can soon become contested spots for property investments.
The interest in office properties in Sofia is also clear from another trend – a lot of companies are investing in property projects that will be finished in 2016-2017.
Like with every other kind of property – especially in times of rising demand – the help of a good, informed and dedicated consultant is crucial for the successful selection of the best office for your company. Especially, if your are a foreigner and lack the contacts, the advice and the connections that Bulgarians have.
"One of the biggest uses of a real estate agency in finding an office for rent, is its mediation in the preparation of the lease agreement, as sometimes the negotiations between a local lessor and a foreign company could turn up complicated. Also, considering the general shortage of quality office spaces at the moment, the agency has the advantage of knowing about newly available spaces in advance," says Diana Andreeva, head of the commercial property department (office, retail, industrial) of real estate agency First Estates (Sofia, 27A Moskovska St, www.first.bg).
Delta Business Centre: The advantage of being multi-purpose
When your business requires not only having an office, but also storage spaces suitable for production, showroom and/or apartment house, the property market in Sofia is not awash with solutions. In most of the cases you will be forced to spread the different parts of your business activity at separate parts of the city and will have to put up with the inevitable consequences: time lost in travelling between the different locations, miscommunication. Delta Business Centre (251 Ring Road, Business Park Sofia, phone:+ 359 899 192 049, delta@topgrоupplus.com, www.rents-delta.com) is an intelligent solution to all these problems. The complex offers at one place showrooms, storage and office spaces, with functional design that can incorporate your business easily. Delta Business Centre has parking spaces for clients and guests, and a quick connection with the city centre via a metro station. The last floor of the complex is dedicated to four luxury apartments for rent – the ideal place where to accommodate in comfort and at an incredibly affordable rate your business partners or guests.
АТМ Business Centre: Comfort at a top location
When you are looking for a convenient location for your business, along with all that you need to work smoothly, try the offers of АТМ Business Centre (Sofia, 131 Tsarigradsko Shose Blvd, phone: 0889 209 556; www.atmcentre.eu). In it, you will find 8,000 sq.m of office spaces and amenities like air conditioning, Internet, phone and security system. АТМ Business Centre is only 6 km away from the centre of Sofia and is close to Tsarigradsko Shose metro station. The centre has also a medical centre, bank, ATM machine, 24-hour restaurant, a hotel with spa centre and a swimming pool, conference halls, hairdresser. The open air parking has 140 places, and the covered one can accommodate 50 more cars. You can also take advantage of the car wash.
easyHotel Sofia: Comfort for the business
Moving your business from abroad or another part of Bulgaria into Sofia is a big step and you are strongly advised to see for yourself the available office spaces, before making it. If you want to spend these several days in the Bulgarian capital in comfort, but without paying for services you wouldn't use anyway, book a room at easyHotel Sofia (Sofia, Todor Aleksandrov Blvd and 108 Aldomirovska St, phone: +359 2 9201654; www.easyhotel.com). easyHotel Sofia is extremely good for business travels and is a great alternative to the classical type of hotels. The rates – from 19 euro for double room – place it in the hostels' price range, but the quality of service and the interior are as good as the hotels'. easyHotel Sofia offers 56 convenient rooms with private baths, Wi-Fi and air conditioning. The hotel is at the Sofia centre, close to a metro station. The reception works 24 hours, there is a parking and security system, and everything is impeccably clean.