News

Sofia City Report H2 2023

04.03.2024

  Investment Market The cautious behavior seen in investors in H1 2023 continued through H2 as well. The main reason for that seems to be the high cost of financing as interest rates for investors have reached 6.5 – 7.5% which basically melts down the potential return almost entirely. ...

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Sofia City Report H1 2023

11.09.2023

Investment Market There was modest investment activity in the first half of 2023, with most deals focused on the office segment. The cautious behavior from investors can be explained by their expectation of global economic slowdown and a potential increase of NPL”s, which could provide opport...

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Sofia City Report H2 2022

03.03.2023

A consistent pipeline for retail parks The total modern retail stock in Bulgaria amounts to over 1,17 million sqm, out of which 542,800 sqm operating in Sofia. With 815,000 sqm stock countrywide, the shopping centre segment didn’t see any new completions over the last few years and this tre...

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Sofia City Report H1 2022 – Encouraging prospects for all market segments

15.09.2022

Sofia City Report H1 2022 – Encouraging prospects for all market segments Sofia, September 2022 - The market continues to show signs of improvement from the Covid-19 state, according to the Sofia City Report H1 2022, published by real estate consulting company JLL with the support of IPC Part...

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Sofia City Report H2 2021

02.03.2022

Sofia City Report H2 2021 – Stronger demand for office space in 2021 marks the start of the recovery process Sofia, March 1st 2022 - After enduring the challenges brought upon by the COVID-19 pandemic, the Bulgarian commercial real estate market shows signs of recovery. In 2021, approximately...

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Ground – breaking of the largest retail park in Bulgaria

19.10.2021

The ground – breaking of the largest retail park in Bulgaria was made today (19.10.2021) in the town of Pernik. Retail Park Pernik Plaza, with an investment of over BGN 20 million, will be the largest commercial area, providing retail space in the city and the region and one of the largest and...

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Sofia City Report H1 2021

08.10.2021

Sofia City Report H1 2021: More resilience from the investment and industrial sectors Sofia, August 2021 – The activity on the Bulgarian real estate market was strongly affected by the COVID-19 crisis, but we saw more resilience from the investment and industrial sectors, which registered bot...

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JLL announces the second edition of Sofia City Report made with the support of IPC Partners Bulgaria

24.03.2021

Bulgarian real estate market in 2020: Investment activity and industrial sector showed resilience The office and retail segments were hit by the restrictions caused by the Covid-19 crisis Sofia, March 2020 – The activity on the Bulgarian real estate market was strongly affected by the Covid-...

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Supply of new logistic areas in 2019

31.03.2020

  The tendency for moderate growth in the logistics properties market of Sofia sustained in the second quarter of the year with growth in construction and high demand for leasing. The newly finished projects for the last three months have a GLA of 72 500 sq.m2. In the first half of 2019, the s...

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What occurs on the market for office space in 2019

31.03.2020

  In the second quarter of 2019, the volume of office space increased. Currently, over 450 000 sq.m2 are build and designed for commissioning by the end of 2022. More than 400 000 sq. m2 are planned for construction but there are no building permits issued so the work is on halt. According to...

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The sunset of the malls in Bulgaria

31.03.2020

  For the last 24 years, newly open market areas in Europe have reached their lowest level. Only 2.6 million sq. m. This is a 28% decrease compared to an earlier year. The new areas were comparable to the beginning of the 90ies when they opened the first shopping malls in Central and Eastern E...

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Expected effects in real estate after the COVID-19 pandemic

31.03.2020

  The situation related to the proliferation of COVID -19 will negatively affect the market in the short term predict experts. "The property market is a function of both the general economic picture and the business of the clients – buyers, sellers, tenants, investors. However, unlike i...

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Half of the office areas are on the market are being rented before being built

29.03.2017

  In the second half of 2016, class A offices take up 70% of the offered new spaces in this segment.   The interest is generated mostly by outsourcing and IT companies, whose shares in office market transactions are now increasing a lot – from 60% in the first half of 2016 to 74% ...

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More investments are expected in business property market

15.03.2017

  Commercial and office segments will remain the ones with the best investment potential in which is observed sustainable development, higher occupancy of projects and stable rental levels.   Higher office offering   In the second half of 2016, the offering of modern office areas...

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Over 200 meter skyscraper will be build on Cherni vrah Blvd. in Sofia

26.01.2017

The project Paradise Tower is part of a shopping complex and is projected to have a "warm" connection with the mall. A total of 55 floors will be build as office, retail and housing. This is the second discussion of the draft expert advice. At the first debate, which took place in late October l...

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Plovdiv- the industrial center of the country

19.01.2017

Plovdiv increasingly hard is establishing itself as the industrial capital of Bulgaria. Only in economic zone "Trakia" annually are invested between 70 and 130 million EUR from Bulgarian and foreign companies, and in the new 2017-a year will be needed over 5,000 new employees for businesses ...

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Global companies consider investing in industrial properties in Bulgaria

08.11.2016

Global international companies within the top 5 world rankings, are showing investment interest in the construction of industrial and logistics buildings in Bulgaria. Inquiries are coming mainly from companies producing automobile components. Investment interest in our country also comes from compan...

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Greek companies are massively moving to Bulgaria

08.08.2016

After the newly accepted higher taxes in Greece since June, the number of greek companies that had moved their business to Bulgaria has risen between 20% to 30%. The enterprises were situated mainly in the North part of Greece-Macedonia and Trakia, and are characterised as small and medium. They va...

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Pending completion of 31,000 m² of logistics space

03.06.2016

It is expected recent completion of several logistics projects with a total 31,000 m² space for rent. This will naturally lead to a slight increase in vacant premises in Sofia. In the first quarter the share of vacant space increased to 3% of total supply, which amounts to 871, 386 m². Des...

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The real estate market in Europe recorded one of its strongest quarters

03.06.2016

The volume of investments in commercial real estate in Europe reached € 50,7 bln. in the first quarter of 2016. The volume of investments in the sector is well above the 10 year average level of € 43 billion. Q1 2016 is the third best quarter ever recorded, only the first three months of ...

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The proportion of empty office spaces in Sofia continues to fall

03.06.2016

The proportion of vacant office space in Sofia continued to decline in the first quarter of this year. At the same time, the supply of offices class A, gradually increases due to increased demand. There is upward trend in rental rates, which is expected to continue in the short term, at least until ...

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New brands entering the market

05.05.2016

Restructuring of underperforming malls and changes in the mix of tenants characterized 2015 without new projects. New brands such as CCC and Forever 21 made their debut and are expected to open new stores. In the higher class, Tommy Hilfiger entered with mono-brand stores, Philipp Plane opened a bou...

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Visual changes in Bulgarian retail chains

05.05.2016

The entries of international chains of high-class on Bulgarian market get local merchants to follow certain standard corporate vision. That's why this year more often observed the process of upgrading their stores through the introduction of a common concept of building and furnishing. Except provi...

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Sofia is among the most promising investment destinations in Europe

07.03.2016

Bulgarian capital Sofia and district centers Pleven, Burgas, Plovdiv, Rousse and Varna are included in customer magazine fDi Magazine as the most promising investment destinations in Europe in 2016/2017 in terms of cost efficiency. Burgas, Plovdiv, Ruse, Stara Zagora, Varna and Sofia also are inclu...

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Plovdiv has emerged as a leader in growth of office and industrial construction

15.02.2016

Plovdiv region is emerging as a national leader in growth of construction activity in the segment of office and industrial properties in 2015, according to data of the National Statistical Institute (NSI). Overall for the country, construction of new office buildings slowed last year, including in ...

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Retail and alternative assets

26.01.2016

On the retail market - continues in the same pace. Supply and rent levels are stable in the malls and main shopping streets. The process of repositioning projects with unworkable concepts is continues. Two examples - in Q1 of 2016 is expected to finish the inner restructuring of one of the first mal...

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The office space segment developed well through entire 2015

26.01.2016

The office space segment developed well through entire 2015, supported by the establishment of Bulgaria as one of the leading destinations in the outsourcing industry, business process management and information technology sector. Expansion of existing companies in this market and the entry of new ...

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Industrial and logistics properties - (slightly) more daring investors

26.01.2016

Several speculative projects in 2015 finally were launched in response to market signals - the second stage of the logistics park East Ring, the third phase of 3MM Logo center, the second building in Universal Logistics, Ring Road Logistic Park and others. Danish chain of furniture "Yusk" plans to ...

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Record levels of investment in logistics and industrial real estate in Europe

14.09.2015

Investment market of logistics and industrial real estate in Europe reached record volumes in the second quarter of 2015. The total volume of investments amounted to 6.1 billion euros for the period April - June. The most preferred investment destination in the segment is Britain - the country has ...

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Forthcoming best three months for the property market in Bulgaria

14.09.2015

The last three months of 2015 will be quite dynamic for the real estate market on the basis of what is happening so far this year. We witnessed the active summer season , in which the interest on the purchase in Sofia and other big cities and holiday properties remained stable. Buyers are already v...

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Bulgaria is again among the best destinations for outsourcing worldwide

14.09.2015

Bulgaria is one of the four countries included in the shortlist for the awards of the British National Outsourcing Association (NOA) for 2015 in the category "Offshoring Destination of the Year". The inclusion of Bulgaria with the other three contenders countries (Slovakia, South Africa and Sri Lank...

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Bursting the property bubble: why 2015 is not 2007

03.08.2015

For many involved in the business of buying and selling global real estate, the memory of 2007 is fresh. As today’s commercial property prices and yields begin to exceed the levels seen in the months leading up to the crisis, concern is mounting in some quarters of the global economy that thi...

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Europe's most liveable cities lure global investors

27.07.2015

Five cities in northern Europe are "punching above their weight" in the real estate investment stakes, taking a disproportionate amount of capital relative to their size. London, Munich, Oslo, Stockholm and Copenhagen feature in the global top five cities when real estate investment is measured aga...

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IT business moved the market for office space

27.07.2015

Rents for Class A buildings range from 10.5 to 12.5 euro / sq.m. There is an increased demand for office space in the last half year in our market. The demand is mainly dominated by companies whose needs are for office space up to 500 square meters, but there are those who exceed this area, reachin...

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Rents in the retail space in Sofia with a growth of 3% in the last year

27.07.2015

Experts report that in 2014 the number of retail trade in the European Union increased by 1.9 % and in the euro area - 1.3%. And that is after several years of decline. In Central and Eastern Europe with the exception of cities like Moscow, St. Petersburg, Kiev and Zagreb rents in shopping centers i...

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2015 provides an active market of land for residential and industrial construction

27.07.2015

Activity in both markets is due to the continuing interest of companies who export industries or business operations in the country. In the segment of industrial real estate the main buyers are companies of light industry and manufacturers of automotive components that start or expand business in Bu...

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The interest in prime assets is growing

27.07.2015

One of the trends in the property market over the past year is the growing interest in prime retail and office space in big cities, and the demand for new, quality properties in the residential and industrial segment. The main demand right now is by Bulgarian investors. However, in 2015, the investo...

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Plovdiv: How business wakes construction

27.07.2015

Which comes first in a city - the business or property? The issue is complex and the answer usually starts with “ It depends ...”. The example of Plovdiv is telling you something important. On the one hand , the advantages of the second largest city in Bulgaria highlighted ago. Industry ...

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