Commercial Property Investment in Bulgaria Up 60% Y/Y in Jan-Sept
Investment in commercial property in Bulgaria have increased by 60% on the year to EUR 98.7 M in the first nine months, according to data from real estate advisers Forton.
Investor.bg quoted Michaela Lashova, managing partner at Forton, as saying that capital inflow has been increasing during the period under review, pointing to accelerated market recovery.
“We can hope to see deals in large assets in the following months,” Lashova said, adding the number of deals concluded in the period January-September has doubled compared to the corresponding period of 2013.
She added Forton’s July forecast of EUR 130 M investments in commercial property in Bulgaria for all of 2014 could be exceeded.
Commercial property investment in Bulgaria increased by 26% last year to EUR 54 M.
Forton is a commercial real estate adviser covering Bulgaria, Serbia, Macedonia and Kosovo. It is an alliance partner of Cushman & Wakefield, the world’s largest privately held commercial real estate adviser.
According to Forton data, land and office space have been among the market segments showing the greatest growth dynamics but retail space and hotels have also been attracting increased investor interest.
Deals in large plots of land for new developments accounted for EUR 29 M, or 30% of all transactions in January-September, Forton said. Office space had a market share of 14%, transactions in retail properties had a share of 42% and hotels had 14%.
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