Investors in Bulgaria Prefer Office

Deals with office and trade sites in 2006 represented 83
per cent of all investments in real estate in Bulgaria, a report of
international consultancy company CB Richard Ellis showed.

The total volume of major real estate investment deals in
2006 amounted to nearly 600 million euro, which is double the funds invested in
real estate in 2005, Capital weekly reported.

Investments made in office space ranked first. The sale
of Business Park Sofia was the biggest deal in the sector, amounting to 180
million euro.

Most of the real estate deals were made in Sofia. Nearly
15 per cent of the deals occurred outside the capital, with the sale of Central
Mall in Veliko Turnovo being the largest one.

The interest in Bulgaria’s real estate market will
remain unchanged in 2007, but the volume of deals will see insufficient
increase, the specialists said.

Most of the investors are companies with long-term plans,
looking to buy sites shortly before their construction is finished.

Agents’ forecast for
2007 is that more European companies and funds will be searching for
opportunities to invest in low-risk products.

Sofia Echo