ARTICLES LABELLED WITH TAG Bulgaria

Large leases and the rebranding of City Center Sofia marked the Bulgarian retail property market in the third quarter. The demand for prime space remained strong fuelled by the increasing consumption in the main cities, while the supply didn’t change. Fashion and shoes, as well as health & beauty were the most rapidly growing categories in terms of new stores. The FMCG sector was driven mainly by the appetite of the fast growing retailers to occupy the niche vacated with the exit of Carrefour and Penny Market, as well as the reorganisation of Piccadilly. Forton has published its Bulgaria retail market snapshot for Q3 2016.

Bulgaria heads the list of the top ten countries in terms of attractiveness to the automotive sector in Europe. This was revealed in the latest research by Colliers and Automotive Cluster Bulgaria, which took place during the second half of 2016.

Central and Eastern European housing markets are over the crisis and prices have once again begun to rise. The general upswing, observed on European housing markets, is supported by a number of factors. Following the economic crisis, GDP has begun to grow once again in most countries and the interest environment is also favourable to borrowing. These both contribute to a recovery in housing market demand, which may then materialise in higher prices. In the case of housing markets in the Central and Eastern European region, significant differences in price dynamics may be observed. Hungary stands out from the field, where a highly significant price rise has been observed in the past two years with the prices of second-hand homes having grown by 29 percent. We take a look at Central and Eastern European housing markets.

International investors seem to have rediscovered one of the biggest and most important markets of Southeastern Europe that have matured a lot over the past few years. Michaela Lashova MRICS, CEO of Forton (an Alliance Partner of Cushman & Wakefield for Bulgaria and FYROM) and RICS SEE Ambassador talked to us about the present and future of the Bulgarian commercial property market. 

The Bulgarian investment market saw a number of positive developments during the first half of 2016, according to the latest Colliers’ report. Part of the good news is that for the first time since 2012, income-generating transactions prevailed (85%) over speculative (15%).

The latest Colliers report reveals a stable retail property market in Bulgaria during the first half of 2016. Modern shopping centers in Sofia retained the absorption levels from the previous period – nearly 15,000 sqm of leasable space, compared to 16,370 sqm in the second half of 2015. In well-established projects enjoying active demand, this equals to an average share of 4% from the GLA. 

In 2016 commercial real estate investment activity seems to be picking up again in Southeastern Europe after a slightly weaker 2015. Although financing conditions are continuing to improve a lack of high quality product and liquidity still presents a big challenge for all countries of the region. We report from Bucharest where Portfolio Conferences and RICS have organised SEE Property Forum for the second time.

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment continues to be broadly positive in Central and Eastern Europe for Q1 2016. Sentiment in both the Occupier and Investment markets registered a positive value across Bulgaria, the Czech Republic, Hungary and Romania. At the same time RICS has published its Croatia Commercial Property Monitor for the first time.