Bulgaria has the distinction of leading the rise in commercial property sales in the EU last year, according to the results of a new study published by Cushman & Wakefield.
In the latest edition of the International Investment Atlas, €254 million (US $286 millio) in transactions were completed in Bulgaria in 2014, representing an increase of 226 per cent on the figures recorded in 2013.
These statistics cover several sectors of the commercial property market including hotels, retail property and land designated for development.
But Bulgaria’s market recovery was led by heightened demand and occupancy rates in office and industrial properties.
This lead to an increase in investor interest in starting new projects, as well as acquiring existing properties which generate revenues.
Commercial property investment activity is expected to remain high for the rest of this year, with domestic investors being key drivers of market growth.
The share of foreign capital will increase mainly in transactions for land either for launching new developments or restarting stalled schemes.
