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Sofia is on a 12-th place in the world for income from commercial property

Sofia is the 12th in the world city rankings for the highest levels of income from investment in commercial real estate, according to a report by global company Cushman & Wakefield.

This unenviable position is a consequence of the global economic crisis, where most international investors are going away from riskier markets and focus on the most liquid and mature ones.

While the crisis has opened many opportunities for opportunistic investments, as many prime properties for riskier markets are undervalued, interest in Bulgaria remains not so high.

Sofia dropped behind as an investment destination in the world rankings, despite the good volume of quality offices and retail spaces, which appeared on the market in the recent years. Warsaw and Prague dominate in Central and Eastern Europe and attract more investments in the region, the success in resolving the crisis is providing quality business environment and proximity to Western Europe.

Relatively low economic activity, high interest rates and high indebtedness of the owners of buildings in Sofia led many foreign investors to postpone their plans for activities in Bulgaria, despite the fact that investments in Bulgaria are over 20% return on equity. These factors are changing now in a positive direction that will return the investments in Sofia.

New York, London and Tokyo are top three in the rankings of the cities that attracted the most investments in property.

Fourth and fifth place are occupied by Paris and Los Angeles.

The most attractive for investment in hotels are the cities of London, New York and San Francisco.

According to analysts there are several factors that determine the level of development of a city. Economic development, the level of population, commerce, finance, innovation, quality of life, culture and tourism are among the key drivers of successful cities.

U.S., UK and Japan are the countries offering the best trading conditions. For Business and financial services the best cities are again London, New York and Tokyo.

In terms of innovation the best during the past year were the cities of Boston, San Francisco and Paris.

Environmental transport also becomes a key factor for the successful development of cities, according to another report by the global company. Leaders in this regard are Berlin Copenhagen and Montreal.

Education and skills of the population have the highest level in London, Paris and Boston. The top 3 cities with a rich culture and a developed tourism are again London, Paris and New York.

The cities that offer the highest quality of life in the world are Vienna, Austria, followed by Zurich and Auckland, Australia.