Real estate advisors Forton has released figures showing that commercial property investment in Bulgaria has soared by 60 per cent in the first nine months of 2014 to €98.7 million.
According to Michaela Lashova, the firm’s managing partner, capital inflow has been increasing during the period, and she refers to an “accelerated market recovery”in recent comments made to Investor.bg.
Lashova also said that her firm, which specialises in commercial property in Bulgaria, Macedonia, Serbia and Kosovo, hopes to see transactions in large assets in the upcoming months.
She points out that the number of transactions completed from January to September had doubled compared to the same period the year before.
In July, Forton’s made a forecast of €130 million in investment in in Bulgaria for all of 2014 but Lashova believes this figure may be exceeded if sales continue at the current rate.
Data collected by Forton reveals that land and office space have been among the markets showing the highest levels of growth. Retail space and hotels have also been attracting more investor interest lately.
Thirty per cent of all transactions were for large plots of land slated for new developments, according to Forton.
Retail properties had a market share of 42 per cent; office space and hotels accounted for 14 per cent each.
