Deals on Bulgaria's Commercial Real Estate Market Rise by 20% in 2015 - Forton

Deals on Bulgaria's Commercial Real Estate Market Rise by 20% in 2015 - Forton

SOFIA (Bulgaria), January 31 (Seenews) - In 2015, deals on the commercial real estate market in Bulgaria rose by 20% to 236 million euro ($257 million), consultancy company Forton, a Cushman&Wakefield Alliance Partner, said in an annual report.
The higher number of transactions is due to the entry of new foreign players on the market, Forton said in the report published earlier this month.Deals in construction sites accounted for 54% of the total, and are likely to continue to grow in 2016. Among the larger deals expected to be finalised is sale of the site of the Kamenitza brewery in Plovdiv, the country's second largest city.
Interest in deals in offices and commercial space too is picking up.
In 2015, over 105,000 sq m of office spaces were completed but supply of quality office space remains insufficient to meet the demand.
"At the beginning of 2016, about 41 000 sq m of logistic projects are under construction in the region of Sofia, which is an unprecedented activity in this segment in recent years," the report noted.
On the industrial plots segment, the main players are the manufacturers of automotive components and light industry companies which are investing primarily in their own production and logistics facilities.

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