Bulgarian properties for sale

Stock of Class A and B office space in Bulgaria has tripled over the past six years reaching a total of 220,000 m2 of leasable office space, Colliers International said in its annual review of the real estate market in Southeast Europe for 2005. Clear differentiation between surban and CBD markets has been established with higher vacancy rates in the latter.

On the rental market the increased stock of space has stabilized rental levels around 10 euro/m2. 20,500 m2 of office space in larger office or mixed-use projects are expected to be completed in the first half of 2005, out of which 11,100 m2 will be located in suburban areas.

In Greece, after many unsuccessful past attempts of investors to develop shopping centers, the retail market is becoming more and more promising. Due to new residential developments, the total supply of properties offered on the Serbian market has increased.

Romania is in substantial demand for quality office space with vacancy rates reaching an historical low at 2%. No major Class A office building was delivered in 2004 which made many tenants sign pre-leases in order to secure their office space in 2005.

This are some of the findings in 2005 Colliers Real Estate Review covering the development of the real estate segments in Bulgaria, Serbia and Montenegro, Greece and Romania.

Information by novinite.com