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Food chains most active in the commercial property market in Bulgaria

Cafes, restaurants and food chains are the type of businesses that have been moving the Bulgarian commercial property market in the last six months. The expansion of grocery stores and restaurants is also directed to commercial streets and at shopping malls, says in a Bulgarian retail market report for the first half of the year.

Banks and mobile network providers are also active on the market, but their activity is not due to their expansion, but rather to the optimization of costs and relocation, the report said.
There have not been any surprises in the market for commercial properties in Bulgaria for the first half of the year. Due to high levels of unemployment and the free space in modern shopping centres, the market continues to be rental-oriented, experts indicate.
Although rental rates have stabilized in recent months, the high competition in the market is expressed in different bonuses for tenants, such as gratis periods when they don’t have to pay rent.
In the first half, the average rental price for retail space in Sofia have fallen by 12% to about 28 Euros per square meter and by 16% to 12-16 Euros per square meter in other Bulgarian cities.
The price drop is mainly caused by the fact that many traders were able to renegotiate the rents for the areas used, due to increasing competition in the market, says the report.
Currently, there are 21 modern shopping centers  in Bulgaria and five retail parks with a total lettable area of 680k sqm. There are 9 malls under construction, and for Sofia only this lettable commercial space is expected to grow with another 180k sqm by the end of this year.
Next year in Sofia, the market will grow with additional 93k sqm of retail space in shopping malls. So for  every 1 000 people in the capital there will be more than 300 sqm of modern retail space. The country average for retail space per 1 000 people of the  population will be a little less than 100 sqm, if all construction projects are completed on time.

For commercial properties for sale in Bulgaria, mainly in the Veliko Tarnovo area, please feel free to have a look at our catalogue.

News

Property in Bulgaria, Veliko Tarnovo…in the spotlight

The early Spring evening sky of Veliko Tarnovo, over the historic River Yantra Gorge and Statue of  The Asens, exploded into an eruption of powerful spotlights, piercing Lasers, strobe lights  and sound and music last night.

This is just a dress rehearsal for the evening celebrations of Veliko Tarnovo holiday on Thursday 22nd March.

Houses in Bulgaria are illuminated by lasers

A dazzling array of lasers and searchlights pierced the evening sky over Veliko Tarnovo. Photo property of Yantra Homes not to be re-produced without prior permission

Spotlights pick at the old revival Bulgarian houses
on the edge of The River Yantra
Photo property of Yantra Homes not to be
re-produced without prior permission

The rehearsal pleased local Veliko Turnovo residents and tourists who were lucky enough to be on the old historical Gurko Street, where typical old Bulgaria property built during the renaissance and pre-revival period nestle precariously on the cliff slopes and little streets by the river gorge.

This again shows what Veliko Tarnovo municipality are doing to arouse interest in this most historic town and region with numerous eco tourist attractions and cultural centres, towns and villages. Another attraction also to support a decision to buy a Real Estate in Bulgaria. Either a holiday home in Bulgaria or permanent living space in a Bulgarian property.