According to the advisory company Forton, €130M is expected to be invested in the Bulgarian commercial property market this year. Last year, the country saw acquisitions worth €54M. This figure was 26 per cent higher than the previous year.
The high level of demand for real estate across the globe will “serve as an incentive” for the Bulgarian market Forton believes. Consequently the firm is predicting that the sales volume in 2014 could be doubled and may even reach €100-130M.
Over the past couple of years, investments were much lower than expected, especially considering the available assets and the historical interest of foreign and local investors. Mihaela Lasova of Forton commented recently that the market will begin to recover from the poor performance recently.
She stated that foreign investors will start to return to the Bulgarian market. This will lead to more major transactions, which will, in turn, generate stable rental income. The major transactions will be Class A office buildings with high occupancy levels, hotels, and major shopping centres. More real estate disposals by creditors, which are advantageous to local investors, are also expected this year.
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