Updated: 2005-11-26

  Bulgaria Tipped Real Estate Market Leader in Southeastern Europe

  Novinite.com

  Business: 24 November 2005, Thursday.

  Bulgaria is one of the leaders on the real estate market in Southeastern Europe, Bulgarian and foreign experts agreed at a major international forum in Vienna.

  "Bulgaria, together with Romania, holds significant potential in the commercial and holiday real estate sectors, where it is joined by Croatia. These will be the most prospective sectors for the next three years," said Deyan Kavrakov.

  Deyan Kavrakov, FRICS, CRE, CLHMS, CIPS, CEO was a key note speaker at a real estate investment congress in Vienna, titled "The Big Deals 05".

  "In the office sector, demand is getting stable and marks an increase in the multifunctional industrial buildings, which house offices, production facilities and logistics," Kavrakov said.

  He forecasts that price growth in residential sector will slow down and will be no more than 10-15% next year.

  "We believe investments in real estate property in Bulgaria are really good and secure investments," says Gerhard Engelsberger, CEO of Immobilien Anlagen. The company is developing a business center in downtown Sofia and plans further investments in commercial areas.

  The "The Big Deals 05" investment forum was held for the first time, bringing together over 50 companies from Western and Central Europe.

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