King Sturge: optimistic forecast for Bulgarian property market
2010-02-04
King Sturge has published an unexpectedly optimistic forecast for the Bulgarian market. At the same time Colliers International has announced that total unrented commercial property space in Sofia reached 190,000 m2 in December 2009, more than the market previously absorbed in one calendar year.
King Sturge expects pharmaceutical, ICT and outsourcing companies to boost office rental market business in 2010, in addition to demand for offices in more prestigious, central locations in Sofia. The consultancy suggests that, in 2010, property companies will see the most substantial returns on investment since 2006.
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