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Bulgarian Property & Real Estate News

Commercial Property in Bulgaria remains stable

New business property in Bulgaria has increased by a minimal amount in the first half of 2008. However several large scale office development are expected to enter the market over the next two years according to Raiffeisen Bulgarian Real Estate.

The market for retail and commercial Bulgarian properties remains stable and should see strong growth in the medium and the long term. It is estimated that foreign direct investments in the Bulgarian real estate market have declined by over 30% in the first six months over the year.

The amount of Bulgarian real estate dedicated to office and commercial space expanded by around 7% and will increase by almost 100% over the next two years, said Colliers real estate. Also Raiffeisen Bulgarian Real Estate said the volume of vacant offices has fallen to less than 5% but supply is set to outrun demand over the next 2 years.

The increase of shopping malls has boosted the available retail space and this segment is projected to see up to 700% growth in the next two years. This is likely to result in a lowering of rental prices according to Raiffeisen Bulgarian Real Estate.

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