On a quarterly basis Forton/Alliance partner of Cushman & Wakefield produces Marketbeat Snapshots covering the Office, Retail and Industrial markets. This gives you the opportunity to be in line with all the latest developments in the commercial real estate market in Bulgaria. Below are the highlights of the quarterly reports for Q4 2016.
A healthy occupier demand kept Sofia’s office market buoyant in 2016. The IT and BPO industries remained the biggest source of leasing activity, in line with the expectations. On the supply side, a limited number of new completions were registered and the shortage of quality space is still a challenge.
Economic upturn and increasing consumption boosted the Bulgarian industrial property market in 2016. The development activity increased, as well as the leasing volumes, supported by the completion of large speculative logistic premises in Sofia over the last quarter. The industrial revival continues across the country as well, underpinned by the automotive and light industry.
In retail improving purchasing power stimulated retail expansion which resulted in active leasing market in 2016. Fashion and shoes brands in the low and middle price segment, as well as retailers in the Health & Beauty and FMCG sector were among the most growing.
Office Property Market Snapshot Q4 2016