Thu, Feb 09 2012
The total amount of owner-occupied and speculative industrial floorspace in Sofia reached 1.2 million sq m according to real estate agency Colliers International research.
This figure includes warehouse, manufacturing and flex buildings.
Out of 1.2 million sq m of industrial floorspace, 160 000 sq m was speculative, Colliers said.
Plovdiv features among the towns that attracts most investors in industrial facilities. The city currently has 450 000 sq m of owner-occupied and speculative industrial floorspace.
Coastal town of Varna has 300 000 sq m. The new Logistics Park Varna will deliver an extra 80 000 sq m of speculative warehouse floorspace within the next years.
Colliers Managing Director said that demand for industrial space will increase steadily in the future.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.