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Last year, Bulgaria recorded the largest increase in commercial property sales in Europe. According to the latest edition of Cushman & Wakefield’s International Investment Atlas, commercial property worth USD 286 million was sold in Bulgaria last year, an increase of 226% compared with 2013. The data include offices, hotels, industrial properties, shopping centres and building land. The annual study covers property markets in 62 countries worldwide and was presented in Sofia by Forton International, Cushman & Wakefield’s strategic partner for Bulgaria and Macedonia. The recovery in Bulgaria’s commercial property market accelerated in 2014, driven by increased demand and occupancy in the office and industrial premises segments, Forton CEO Michaela Lashova commented. These figures in turn led to greater investor interest in launching new projects and acquiring existing commercial properties that are operating and generating income. Investment activity in Bulgarian commercial property is expected to remain high this year as well. Much will depend on economic growth in the euro area, the country’s main trading partner. Domestic investors will remain the main driver of sales growth in Bulgaria’s commercial property sector, while the share of foreign capital will increase mainly in purchases of building land and the launch of new projects or the restart of frozen developments.
forton.bg/en/post/146/in-europe-and-bulgaria-commercial-real-e