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Storage Area Demand In Bulgaria Exceeds Residential Property Seeking

The demand for up-to-date warehouse facilities in Bulgaria is higher than the demand for residential property

High interest in modern warehouses resulted from the insufficient number of renewed such facilities, real estate consultant Colliers International said. The demand for warehouses will continue to increase in connected to EU food industry requirements.

Supply on the residential property market is too high, Colliers said. The demand for residential buildings in Sofia is now higher than the supply but the tendency will change in the near future.

Another tendency on the property market according to the research of Colliers is the increasing demand for office space. Demand and supply increased by 27 per cent in 2006 and will continue growing.

The demand for office space in the outskirts of the cities also increased, Colliers said. The highest prices are seen in city centres, where the monthly rent ranges from 12 to 22 euro per sq m.

Larger office venues also became more popular in Bulgaria, in contrast with tendencies in neighbouring countries like Serbia and Macedonia.