OFFPLAN NEWS

(08.06.2007 )
BULGARIA’S PROPERTY MARKET REACHING SATURATION POINT- REPORT

Bulgaria’s real estate market would soon reach its saturation point, while Romania still had options to develop, The Diplomat Bucharest reported.
Some areas in Bulgaria are already over-developed, agents said. Coastal resorts like Sunny Beach experienced over-construction, which in turn affected the plans of investors.
Coastal areas in Bulgaria and Romania, as well as the region surrounding the capital cities offer the best opportunities for property investors. The report, however, said that in Romania the costs are higher.
Bulgaria still features as a more attractive purchase destination but profits in Romania are higher, agents said.
Apart from the residential sector, other property segments in the two countries are developing. The office markets in both countries saw some developments and major transactions recently.
Retail is also gaining momentum in Bulgaria. Some major international brands are considering expanding their market to Bulgaria after a number of malls opened doors in the country, The Diplomat Bucharest reported.

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