DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/20739a/bulgaria_real_esta) has announced the addition of the "Bulgaria Real Estate Report Q4 2011" report to their offering.
Key opportunities in the real estate market:
- An assessment by international real estate consultant Colliers indicates that a real opportunity for developers lies in the under-served mid- and high-end residential marketplace, where supply is being taken up faster than new projects are coming online. The company reports that no new large-scale projects were completed in 2010 in these residential pipelines and, as developments take up to three years to construct, available supply is becoming scarcer, causing prices to rise.
- This may be the time to enter the Bulgarian property market if investors have time to wait out the recovery. Prices are extremely low but the new supply pipeline has been decimated and as the recovery takes hold, there must come a time when vacancy levels will drop, opening up the market to new development opportunities.
Key risks to the real estate market:
- Bulgaria's construction industry is suffering from the declining number of projects under development: The National Statistical Institute reported in May 2011 that the country's construction production index declined by 16.6% compared with May 2010 (already a depressed period itself). However, that was a drop of just 0.1% from the previous month, perhaps indicating that a bottom level has been reached.
- New stock of industrial space coming online has remained entirely empty, except for one partially pre-leased building in Trade Centre Europa.
Companies Mentioned:
- Balkanstroy JSC
- East Balkan Properties (formerly known as Equest Balkan Properties)
- Glavbolgarstroy
- Holcim (Bulgaria)
- Mott MacDonald
- Trace Group Hold
For more information visit http://www.researchandmarkets.com/research/20739a/bulgaria_real_esta