Boston, MA -- (SBWire) -- 03/13/2013 --The Bulgaria Real Estate report examines the commercial office, retail, industrial and construction sectors throughout the country in the context of continuing strife in the eurozone and its neighbouring countries.
With a focus on the country's principal cities including Sofia, Varna and Burgas, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of a stalled construction pipeline on a market which has suffered considerable rental weakness in recent years.
View Full Report Details and Table of Contents
Although 2011 saw some glimmers of hope, these have yet failed to materialise going into 2013. Our mid-year 2012 data for the commercial real estate sector has been less than encouraging with the office sector in particular still suffering from oppressive market dynamics. With the economy still fragile, demand lacklustre and political stability in question, the news for the sector is almost exclusively gloom and doom until the region's economy is back on track. Nevertheless, there are opportunities in the tourism and retail sectors.
Key Points:
- We expect the Bulgarian economy to slow in H212 as demand from the eurozone weakens, forecasting full-year real GDP growth of 0.1%. Conversely, we expect a recovery in the bloc, coupled with some fiscal loosening ahead of next year's parliamentary elections, to drive GDP growth of 1.4% in 2013.
- A disorderly default in Greece would wreak economic havoc on Bulgaria whose economy is highly exposed to the beleaguered Hellenic nation via trade, investment and banking sector avenues. Although this risk is somewhat mitigated by recent developments, in the event of a deterioration in the eurozone sovereign debt crisis, we would be forced to revisit our forecasts for Bulgaria across the board.
- There remains considerable caution among those investing in Bulgaria's construction and infrastructure sector as growth remains low again this quarter. Growth is up slightly, with a forecast of 2.1% year-on-year (y-o-y) in 2012, however, this is expected to slip back to 0.8% in 2013. The ongoing eurozone crisis continues to crush any long term signs of growth as private sector worries about corruption and growth have also dampened prospects. The industry value is expected to rise from US$2.8bn in 2012 to US$3.2bn by 2016.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Business research reports at Fast Market Research
You may also be interested in these related reports:
- India Real Estate Report Q1 2013
- Indonesia Real Estate Report Q1 2013
- Taiwan Real Estate Report Q1 2013
- Kuwait Real Estate Report Q1 2013
- Chile Real Estate Report Q1 2013
- Brazil Real Estate Report Q1 2013
- Hungary Real Estate Report Q1 2013
- Saudi Arabia Real Estate Report Q1 2013
- Germany Real Estate Report Q1 2013
- Japan Real Estate Report Q1 2013
Recent Study: Bulgaria Real Estate Report Q1 2013
New Business market report from Business Monitor International: "Bulgaria Real Estate Report Q1 2013"