Logistics properties least affected by crisis

2010-07-27

Logistics properties in Bulgaria were less severely affected by the economic crisis during H1 2010 than any other area of the property market, according to GVA Sollers Solutions. One of the reasons was the delayed growth of the logistics industry in comparison with the pre-crisis boom in residential, office and retail construction.
100,000 m² of logistics properties were completed in Bulgaria during H1 2010, of which 80% were built by the owners. The market is driven mainly by discount retailers, who prefer to build their own distribution centres.
49.7% of modern logistics buildings are concentrated in Sofia. In the capital, the highest level of demand is for spaces of 1,000 m² and more, whereas in smaller towns there is more demand for logistics facilities taking up 200-600 m² than for anything else.
Average rents in Sofia were €4.5/m² in H1 2010, in comparison with €5.5-6.0/m² in H1 2009.