Bulgarian commercial property sector grows

Article Date : Thursday, August 09, 2007

Bulgaria's commercial property sector is showing positive signs of growth, attracting increased investment activity from foreign and domestic investors.

New research from real estate group Colliers International suggest that notable growth is being evidenced across all commercial segments in Bulgaria's real estate market, led by the retail sector.

In addition, average rents are shown to have continued in an upward movement into the first half of the year. However, an increase in vacancies has been anticipated in the near future despite the entrance of international developers to the market.

Shopping mall construction in Bulgaria has more than doubled in the first half of 2007 alone, reports Colliers International.

Many of these developers are experienced investors looking for lucrative commercial property opportunities in emerging markets such as Bulgaria, offering strong levels of appreciation in the future.

Meanwhile experts at Off Plan International claim that some Bulgarian regions are nearing over-development, suffering from an excess of development interest and exploitation. This is due largely to the fact that Bulgaria is coming out of its emerging phase and is now fairly well established.

Tags:

Bulgaria, Colliers International, real estate group, real estate market, retail sector

Bulgarian commercial property sector grows

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