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SOFIA (Bulgaria), August 15 (SeeNews) - Bulgarian investors dominated the country's real estate investment market in the first half of 2019 with a share of 59% of all deals, property consultants Colliers International said.
The increased number of local investments is reversing the trend from the last two years when foreign investors were responsible for the bulk of the real estate investments in Bulgaria, Colliers said in a report published earlier this week.
Local companies invested 99 million euro ($110 million) in the review period, while foreign companies invested 69 million euro.
In 2018, local investments in real estate amounted to 204 million euro, while foreign investments totalled 464 million euro, according to Colliers data.
The total value of the investment transactions slightly exceeded 167 million euro in the first six months of the year. Development land transactions constituted about 42% of the volume, followed by offices and hotels with 32% and 19%, respectively.
"By the end of 2019 investment volumes are likely to stand lower compared to the last two years, but still exceed the annual levels in the period 2009-2016. Office and retail properties will continue to show the greatest investment potential due to their sustainable development, high occupancy levels and stable rents," Colliers said.
($ = 0.89682 euro)