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%);
- 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.