In 2016 Bulgarian property market will attract more foreign investors, especially in the capital, due to the recently build technology park and the interest from outsourcing companies. The park, known as the “Sofia Tech Park”, which consists of laboratory complex and an incubator for startups, already has its first occupant – the investment fund Eleven, along with three companies from its portfolio, as well as interest from a number of technology giant and representatives from other industries such as Trelleborg. pCloud will provide free access to the product. Hardware giant HP together with the BAS will provide for the park a supercomputer with parallel systems.
Growth in demand is expected in 2016 for office and logistics space as well as residential property, which will serve areas with increased consistency of IT companies. In 2015, technology companies and companies from the service sector continued to move the office market in Sofia. In other major cities is observed high demand, as the number of transactions and prices grows, and thus seems to enhance the sector. As a result of the growth of the outsourcing business, and a wave of mergers and acquisitions worldwide, we can conclude that demand will be permanently turned to areas with many square metres .
Expectations for growth in gross domestic product in 2016, as well as reducing unemployment and rising demand for good investments makes Bulgaria among the top destinations for outsourcing. UniCredit Bulbank forecast growth of Bulgaria’s economy by 2.6% next year.
In terms of rental prices Logistics Market will remain more balanced, Sofia levels for prime office will remain around levels achieved average of 4 euro / sq. m monthly forecast of “Forton” .
In the big cities continues and the active search for building plots associated with investment in residential and office buildings, and large multi-functional complexes. An interesting development in 2016 is expected in Plovdiv, where “Kamenica” sell 31 acres of ground under its former brewery. Property will be announced tender in the spring.