site.btaSofia's Flex Space Share to Traditional Office Area Stands at 4.2%, Showing More Mature Market – Colliers Report

The share of flexible office space to traditional office area in Sofia is 4.2%. This is above most capitals in the EMEA region (Europe, the Middle East and Africa), which suggests that the Bulgarian capital's flex office market might be reaching a more mature stage, where supply, demand and operator activity are becoming more balanced, says real estate services company Colliers in its report Flex Offices in Sofia H1 2026.

Overall, the Bulgarian flex market is shifting from fast expansion to a more stable, mature stage, as operators focus more on improving existing locations rather than adding large volumes of new space, the report says.

A review of Sofia's flex and coworking market shows that the suburban area holds the largest share (50%), followed by the central business district (32%) and the broad centre (18%).

In the early years of the market, many flex and coworking spaces in Sofia were set up in older administrative buildings, because they offered lower costs and easy entry. Such spaces currently account for 33% of the city's flex market. In recent years, the focus has shifted toward modern office buildings, as operators now prioritize quality, functionality and a strong professional image to attract large corporate teams. At present, 50% of flexible office space is in new, modern office buildings, Colliers says.

According to the report, local operators continue to dominate the flex market in both total leaseable area and number of active operators. In recent years, some landlords have begun launching their own flex concepts, aiming to stay competitive and retain occupiers within their portfolios. This shift allows landlords to offer more tailored, service driven solutions while capturing additional value from their buildings.

Nearly two thirds of current flex space demand comes from larger occupiers, led by corporate users (39%) and IT companies (24%), which together form the core of the market. These groups rely on flex space to support hybrid work, scale their footprint quickly and access short term, low commitment solutions. 

Smaller segments such as startups (13%), freelancers (12%) and creative professionals (10%) also contribute to demand, valuing the modern work environment and convenient locations flex spaces provide. As a result, flexible offices are no longer viewed as temporary setups but as a strategic, long term component of many workplace portfolios.

Lease lengths are gradually increasing as occupiers seek more stability and long term cost control. Many companies prefer committing to longer terms to secure favourable conditions and avoid the uncertainty of frequent renewals. This shift is also linked to a more mature flex market, where operators offer clearer service levels and stronger operational standards.

Average prices for flex space have largely plateaued, with most operators keeping rates stable over the past year. The average daily rate is EUR 25, a fixed/dedicated desk costs EUR 200 per month, and a private office desk comes at an average price of EUR 280 per month.

Much of the previously announced pipeline has already been delivered to the market, and the remaining pipeline is now very limited. At present, only one new project in Sofia has been announced, with a size of around 3,600 sqm. The pipeline continues to be driven mainly by existing operators expanding their locations, reflecting steady demand and confidence in the flex segment despite the slowdown in new developments.

Flex space now serves as a stable complement to traditional leases, giving occupiers the agility they need without replacing core offices. The market continues to grow, but the boom from past years has given way to a calmer, more cautious pace of expansion.

Prices for flex space are expected to remain largely stable, with operators prioritizing occupancy and retention rather than price increases, the report says.