'Local investors are active in the Bulgarian real estate market - Colliers.'

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August10 (SeeNews)

Bulgarian investors dominated the country's real estate market in the first six months of 2023, with a 65% share of the total investment of 83 million euros ($91.5 million), real estate agency Colliers Bulgaria said.

The entire volume of transactions was generated in the first quarter alone, and 49% of all transactions were conducted in the office space segment, Colliers Bulgaria said in a real estate market report for the first half of the year published last week.

"In the first half of 2023, the volume of speculative real estate transactions significantly exceeded the volume of income-generating transactions," Colliers noted.

The area of leased office space amounted to 27,400 square meters''sustainability.

In the industrial real estate segment, the availability of industrial and logistics space in Sofia reached 1.4 million square meters by the end of June, up by a modest 18,700 square meters over the previous six months due to rising construction costs.

The occupancy was 30,900 square meters, with the fast-moving consumer goods (FMCG) sector contributing 43% to demand.

The supply in Sofia's shopping centers, main streets and retail parks remained unchanged in the first half of the year, amounting to 390,600 square meters, 63,800 square meters and 66,500 square meters, respectively.

The total area of leased premises exceeds 10,500 square meters''meters, and vacancies in shopping centers account for 3.6%.

In the first half of the year, the market was pioneered by German discounter TEDi, which opened stores in shopping centers and retail parks in Sofia, Pernik, Sliven, Stara Zagora and Pazardzhik. According to Colliers Bulgaria, the trend of expansion of discount retailers across the country is expected in the near future.

($ = 0.9071 euro)