Bulgaria with the greatest decline in rental property business in the EU
Rents for commercial real estate in Bulgaria reported the largest decrease compared to other markets within the European Union (EU), according to a new report.
Study of the consulting firm Cushman & Wakefield, granted to Investor.bg, compares the development of commercial real estate segment in 26 European markets.
According to him, our country experienced the highest decline in rents in the three sectors of commercial real estate as of March annually.
The most significant decrease in commercial areas, where rents have fallen by 43.8 percent in March from a year earlier. Slovakia followed by a decline of 40% and Ireland at 27.6%.
Office rents in the country fell by 28.8 percent for the period, in this regard, Ireland with a fall of 25.5% and Romania with 15.6 percent. From markets outside the EU, Russia is leading to a decrease of 19%.
Reported a significant decline and rents of industrial areas in the country - 25%. Ireland is again in the second position in the segment decreased by 20%, and Spain is the third - to 9.2 percent.
Profitability in most segments in Bulgaria remains the highest for the EU, certain property types, it is comparable to that in Russia. In centers in Bulgaria is 9.5 percent yield, for office space - 10.5 percent.
Against the backdrop of decreases in our commercial real estate market in more developed economies is beginning to stabilize as the pace of decline was slowing and the value of certain types of property started to rise.
Much of the markets surveyed the company's rental rates begin to stabilize as Britain and Turkey, the trend is upwards.
Published on 2012-05-22 10:17:22
Source: Investor.bg
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