The market for office terrains in Bulgaria is expected to stir soon, because of the possibility to rent a high quality office at a good location for a favourable price, notes the periodical Property Wire citing Anton Slavchev – manager of offices and business parks in Colliers International.

The prices of business areas in Bulgaria’s Sofia dropped drastically with 10-15 euro per square meter, which stimulates the potential leaseholders to seek better offers at lower prices.

The drop of prices is not only due to the decrease of customer interest during the crisis, but also due to the surplus of offers, a result of the hyperactive construction of buildings that flooded the market with offices. The companies that are closing down and offering their offices are another factor.

According to Slavchev, the prices in Bulgaria are still determined by investors. They take into account two factors: the level of completion of the projects and the process of filling the office buildings to their real capacity. The analyzer explained that investors are beginning to realize that their empty buildings bring them no profit and are now trying to be more flexible to cover up the losses.

Meanwhile, the national statistics agency and the researches of several other agencies noted a drastic drop of construction of buildings in Bulgaria.