Bulgaria saw a number of retail property projects in 2006
Bulgaria saw a number of retail property projects in
2006. According to predictions, the property market will see office project
execution in 2007.
Such projects will be
carried out in Sofia, as well as in other bigger cities, Capital
weekly reported.
Most such projects
were already launched in the coastal city of Varna. Analysts said
that new developments can be expected soon in Plovdiv. The good location and proximity to Sofa draws
increasing number of investors to Plovdiv Property.
Varna turned out to be the second most attractive
city after Sofia when it comes to office property projects.
The first such project
to be started in the coastal city was Business Park Varna. Upon its completion,
the business park will feature nine buildings and an area of 120 000 sq m.
Several investors
expressed interest in carrying out office property projects in Varna’s centre. At the moment, office rents in Varna vary between six and 14 euro per sq m.
Despite its potential,
Plovdiv still lags behind Sofia and Varna. The proximity to Sofia Properties is a good
factor but also turns investor interest directly to the capital, analysts said.
Major companies prefer
to construct on their own office buildings in Plovdiv and the number of constructions offering
office property for rent is limited, Capital reported.
Office rents in Plovdiv vary between five and 10 euro per sq m. In the
most preferred central locations rents can reach up to 12 euro per sq m, the
report said.
Source SofiaEcho
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