A recent report from Colliers analyzing the state of the office market in Bulgaria’s major regional cities indicates continued resilience into early 2026. In Plovdiv, the market demonstrated stability throughout 2025. The total stock of Class A and B office space reached 290,300 sq m, with vacancy rates dropping to 7.8%, the lowest level since 2019.
Strong demand, largely driven by the IT and outsourcing sectors (accounting for over 70% of take-up), supported rental increases to EUR 11/sq.m for Class A and EUR 6/sq.m for Class B. Furthermore, significant construction activity, totaling 43,200 sq m (primarily Class A), signals confidence in the business environment. Varna’s modern office space market showed slight growth, reaching 277,100 sq m.
Its vacancy rate hit a record low of 4.2%, contrasting sharply with the 10.6% seen at the end of 2024. Demand sources included the industrial and energy sectors, professional services, and IT. Limited supply has contributed to rent increases, with Class A reaching EUR 10/sq m.
Burgas, which traditionally lags behind its peers, reported a total supply of 92,000 sq m, though no new buildings were completed in 2025 or early 2026. Its vacancy rate remains higher at 15%. Overall, Colliers anticipates that rental levels across the main regional markets will remain stable, with potential growth confined to prime, low-vacancy properties.
The report suggests that interest is increasing in cities outside the top three, which have the potential to develop into new office hubs if local authorities provide adequate incentives.
Topics: #regional #cities #office
A recent report from Colliers analyzing the office market in Bulgaria’s major regional cities indicates that the sector has maintained resilience through early 2026. For instance, the Plovdiv market d