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Office Market Overview H2 2020

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office market H2 2020
  • The suply of class A, B and C office space market in Sofia reached a total of 2,388,380 sqm and recorded a 3% increase in the second half of 2020. Year-on-year growth was 5%.
  • Total take-up for the last six months of 2020 was 51,100 sqm, and for the whole year - 107,600 sqm, equating to 39% decline compared to 2019.
  • Demand during the period was driven by the following sectors: IT and outsourcing (47%), professional services (18%), financial services (13%), utility supply (11%), retail (5%) and others (7%).
  • Average vacancy rate on the market was just over 13%, representing approximately 2% increase in the second half of the year.
  • The average asking rents held their levels from the first half of 2020, respectively for class A - 12.5 euros per sqm and for class B - 10 euros per sqm.

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Office Market Overview H2 2020

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Related Experts

Verka Petkova

Partner, Director Business Development | Bulgaria

Sofia

Verka joined Colliers International in August 2005 as Key Accounts Executive, focusing on the launch of a new residential service. In connection to the launch of Business Park Varna in 2005,  she was asked to contribute as a member of the project team. Based on her experience and success with the project, she became a member of the Offices & Business Parks team in May 2006. Verka was  promoted to Consultant in the beginning of 2007, and to Senior Consultant in the beginning of 2008. Since the beginning of 2010 she is Manager Key Accounts Offices & Business Parks. In 2012 Verka  become the Head of the Office Services team and as of March 2017 - Director Business Development.

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Adriana Toncheva

Senior Consultant | Bulgaria

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Adriana Toncheva joined Colliers in October 2008 as Market Researcher and member of the marketing team. Her primary responsibilities are data collection and analysis, processing and carrying out market research surveys, writing various real estate market reports. Adriana is the person to turn to for accurate and updated data and analysis regarding various topics, not limited to real estate. She supports internal clients with corporate presentations and reports, customized to their specific needs and requests. Among her major projects are the implementation of the Net Promoter Score program, Colliers Bulgaria Client Follow-up program and Integis. In 2014 she received Colliers Bulgaria Service Excellence Award for business support functions.

 

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