Market Research 

The office of the future will be more flexible

MBL’s office team together with Sterling Serviced Offices Group conducted a survey amongst 100 office occupiers in Sofia in attempt to understand the effect of Covid-19 on business operations during the lockdown and whether their vision for the office spaces had changed.

The Bulgarian office space market remains stable during state of emergency

MBL conducted a survey among 85 landlords in Sofia whereas overall results indicate that there is a level of comfort among experienced developers with sustainable office buildings.

Despite the covid-19 crisis only 4% of respondants will postpone paying loan principal and 65% specify that they do not expect to lower rents. This indicates both healthy levels of leverage and sustainable rental income based on strong tenant roaster.

73% of the participants have noted that the shortest rental agreement in their buildings will be 5 years while 22% have indicated that they will accept a 3-year agreement. As for the changes requested by tenants – 71 % asked for deferred rental payments.

The COVID-19 pandemic affects the way we use office buildings and will likely affect how we design them in the future. We have prepared this special report with focus on measures that landlords and occupiers should consider before employees return to their workplaces.