On 5 November 2026 the consultancy Colliers published its review of the Sofia property market for the third quarter. The report covers every main segment — offices, warehouses, retail and houses in gated complexes — and follows on naturally from the analyses we published after the first half: on the office market, warehouses and retail space.
In short: the market is stable. Rents and yields are unchanged, and warehouses remain the only segment with a clear shortage of space.
From the start of 2026 to the end of the third quarter, property investment volume reached €472.2 million, according to Colliers. Some media reported it as a national figure, others as Sofia's; the report itself covers the Sofia market.
One caveat: this number is not comparable with the €143.6m for the first half that we quoted in our office report. That figure came from a different consultancy (Cushman & Wakefield | Forton) using a different methodology. The published coverage does not break the €472.2m down by segment or by quarter.
| Segment | Prime yield |
|---|---|
| Offices | 7.50% |
| Retail | 7.75% |
| Industrial and logistics | 7.50% |
| Residential | 3.75% |
Colliers, Q3 2026. All values unchanged from the previous quarter.
How to read this: the prime yield is the annual rent from the best buildings relative to their price. A 7.5% yield means such a building costs roughly 13 years of rent; at 3.75% for residential, roughly 27 years of rent (our arithmetic). Put simply, investors pay far more for each euro of residential rent than for office or warehouse rent — in exchange for lower vacancy risk and easier resale.
After the first half we reported 11.64% vacancy based on Cushman & Wakefield | Forton data. The two firms measure differently, but the direction is the same: roughly one ninth of Sofia's office space stands empty, and rents are steady. For tenants this means a good negotiating position — especially for larger floor plates and longer leases.
Flexible offices (coworking and serviced offices) now account for 105,500 sq m, with another 3,800 sq m under construction. Prices are unchanged: €150 a month for a hot desk in shared space, €200 for a dedicated desk and €280 per workstation in a private office.
According to Colliers, speculative industrial and logistics space (built to be leased) totals 1,488,500 sq m, with another 130,800 sq m under construction. Vacancy is 1.3%. Rents are unchanged at €6 per sq m per month for Class A and €4.50 for Class B.
At mid-year Colliers reported 1,448,500 sq m, so the stock grew by around 40,000 sq m in the third quarter (our calculation from the published figures) without pushing vacancy up.
Cushman & Wakefield | Forton data released the same day (as reported by Money.bg) confirm the picture from the demand side:
The conclusion is the same as in the summer: demand is running ahead of supply, and most new buildings are let before they are finished.
| Format | Prime rent (€ per sq m per month) | Vacancy |
|---|---|---|
| Shopping centres | 46 | 2.8% |
| Retail parks | 13 | 2.9% |
| Vitosha Boulevard | 59 | 2.7% |
Colliers, Q3 2026. Vacancy unchanged from the previous quarter.
No new shopping centres have been started. 29,600 sq m of retail parks are under construction — the format that keeps growing at the malls' expense. (Cushman & Wakefield | Forton reported €48.50 for a prime mall unit in the second quarter; the difference reflects methodology, not a change in the market.)
Colliers also tracks houses in gated complexes in Sofia. Average prices, including VAT and a parking space, are:
Supply stands at 2,170 houses, of which 1,460 are under construction. It is a small, expensive segment — if you are considering it, see also what to check about the maintenance fee and the management contract in a gated complex.
Colliers data for the third quarter of 2026 (published 5 November 2026) and Cushman & Wakefield | Forton data for the industrial market, verified in November 2026. Rents are asking levels and indicative; actual terms depend on the size, lease length and specific property.
Looking for an office, warehouse or retail unit to rent — or considering buying a commercial property as an investment? Call us or visit our office. We will go through the specific options with you and the real terms the market is offering right now.
