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According to a report by international consultancy Cushman & Wakefield, Bulgaria, and Sofia in particular, has considerable potential for developing the commercial property sector. The positive forecasts stem, firstly, from Bulgaria remaining one of Europe's least saturated countries in terms of retail space and, secondly, from the steady improvement in the country's macroeconomic situation.
The report shows that Bulgaria has just over 100 square metres of retail space per 1 thousand residents, which is 4 times lower than the European average. Only Greece (57 square metres), Bosnia and Herzegovina (74 square metres), Serbia (75 square metres) and Romania (97 square metres) have a lower concentration of retail space.
In Bulgaria's capital Sofia, retail space per 1 thousand residents stands at 235 square metres. This is almost twice the national average, but only 50% of the European average. Moreover, experts forecast that consumer demand in the Bulgarian capital will grow by 4% annually over the next 5 years. These factors will provide good business opportunities and high returns on investment in commercial property.
The top-10 most promising destinations for commercial property investment include, alongside Bulgaria and the countries mentioned above, Poland, Sweden, Germany, Croatia and Belgium.
Source: Investor.bg
