Business Property Deals Amount to EUR 225 M for January-September 2016

Business Property Deals Amount to EUR 225 M for January-September 2016

Real estate deals with business property in Bulgaria, signed over the period January-September 2016, amounted to EUR 225 M, showed a survey carried out by consultancy company Forton and unlisted company Cushman Wakefield. Nearly 70% of the contracts were signed for profitable assets – hotels, office buildings, commercial and industrial space, the biggest share being accounted for by hotel acquisitions. According to the survey, the business real estate market has entered a new phase, moving from stabilisation to growth. Office space rent prices maintain a level of EUR 13/sq m, while the rate of return is 8%. Rent office space in the capital varies between 126,000 and 154,000 sq m, with a 60% share accounted for by the IT and outsourcing sectors. With respect to commercial centres in Bulgaria, a restructuring tendency of weak-performing malls has been recorded. In 2016, rent prices in c…

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