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Bulgaria is in the initial phase of recovery

The offices in Bulgaria is the sector with the most chances for development. Next are the commercial and industrial properties.

This indicates the first done for Bulgaria attitudes survey in the sector from the global organization of real estate professionals Royal Institution of Chartered Surveyors. A similar trend factors are as the interest on the part of the tenants of office space and expected growth of rental levels for top-quality offices and industrial areas.

Poland, Hungary, Romania and the Czech Republic are before us in terms of the expectation of the values of assets for next year, but Bulgaria is ahead of them in terms of forecasts for a rise in rent levels.

The good news is that the index of confidence for demand from tenants is 12, which places our country in front of the above.

"The investor confidence is improving, but from very low levels. We are in this phase of the business cycle, in which demand from tenants, start from the bottom, the rents are stabilizing and demand from investors began to rise", said Michaela Lashova, Executive Director of the real estate consulting company Forton.

Analysts say the best is the level of demand for office space, followed by the industrial estate. The last sector is characterized by limited supply as the total score for the level of free space is negative. Retail sector lags because of growth in demand and negative expectations for the rents. He also leads in the forecasts for the supply of troubled assets, that is, property and buildings, whose earnings are not sufficient to cover their obligations to creditors.

"We actively monitor and assess business opportunities across all asset classes in the Bulgarian market, which is one of the main for our Fund. The global financial crisis, which put a very short and intensive construction cycle in the local real estate market, driven by the abundance of credit, put the surprisingly large number of business and residential projects of high quality that have excessive debts and are in need of fresh capital to restructure and updated strategies for management of the assets, "says Radu Boitan, FRICS, investment Director at Revetas Capital Advisors.