The Situation On The Commercial Property Market In Bulgaria In 2010

According to experts, for the first two months of 2010, lower rental rates in the segment of industrial real estate in Bulgaria for the whole 2010 will amount to 5-7 percent. In 2009, the rental price of industrial facilities in the country has decreased, according to various estimates, 16-23 percent in comparison with the previous year. Analysts expect this trend to continue this year. Sophia sank in 2009 with 20 of 31 in the global ranking of cities with the most high cost of 'industrial' rent. As of early 2010, this figure in the Bulgarian capital of 5.1 euros per square meter per month. Expect further decline in rental rates. One can assume also that as in most of the world of commercial real estate markets, the factors that hinder the restoration of the Bulgarian industrial real estate market will become unstable national economy and a weak rental demand. It is worth remembering that the lack of tenants has led to an increase in vacancy Bulgarian industrial areas with 1 percent in early 2009 to 3,6 per cent at the end of that year. Approximately the same situation in the rental market and sales offices, shops and hotels. For example, the cost of renting offices in major Bulgarian cities – Sofia, Plovdiv, Varna, Burgas and Russe – in 2009, has fallen by more than 25 percent over the previous year. Not so long ago, most buyers, it was hard to imagine what they can get a hotel on the coast. Now it is quite possible – in the coastal areas of Bulgaria are offered for sale a few hundred Hotels and cheapest of them cost no more than 200-250 thousand euros. Only two or three years ago it was the price of large, comfortable apartment on the first line to the sea.