Stability Reigns: Sofia Real Estate Market Thrives Despite Uncertain Times
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Foreign direct investment (FDI) in Bulgaria decreased by 36.6% year-on-year in the first quarter of 2016, dropping to EUR 371.3 M according to preliminary data, the country’s central bank announced on Wednesday.
The figure is equivalent to 0.8% of 2016 GDP forecast by the Bulgarian National Bank (BNB).
Equity investment in the period January – March 2016 totalled EUR 144.5 M, an increase of nearly 52% compared toEUR 95.2 M in the respective period of last year.
Reinvested earnings were estimated at EUR 139 M for the first quarter of 2016, a decrease compared with EUR 214.6 M in the same quarter of last year.
Real estate investments of non-residents totalled EUR 9.3 M, down from EUR 15.8 M for January – March 2015. The largest inflow of real estate investment came from Russia (EUR 2.2 M), followed by Norway (EUR 1.4 M), and the USA and Germany with EUR 1 M each.
Net debt instruments in 2016 through March totalled EUR 87.8 M, down from EUR 276.3 M forthe first quarter of 2015. The largest net direct investment inflow in Bulgaria for January – March 2016 was from the Netherlands (EUR 232.9 M), the BNB said in a monthly FDI report.
The data for January – March 2016 are to be revised with the April 2016 report. The 2015 data are subject to revisions with the annual data from the state statistical office NSI and reports from foreign direct investment enterprises.
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