Property investors still interested in Central and Eastern Europe

www.sofiaecho.com, 2006-04-20

     The interest of foreign investors in Central and Eastern European property continues. As a result of the high demand, the region might be unable to offer enough real estate purchase opportunities, Dnevnik newspaper reported.
     Western investors’ interest is on the rise also because of the expected EU membership of several countries in the region, the Wall Street Journal reported. This development would likely guarantee investment stability and will minimise economic risks.
     Last year Bulgaria, the Czech Republic, Poland, Romania, Russia and Slovakia acquired 5.8 billion euro through property deals. The figure represents a 38 per cent increase compared to the 4.19 billion euro in 2004.
     Poland registered the highest increase, followed by the Czech Republic and Hungary. Office property investment represents the highest share. It totals 44 per cent of the overall investment in the region. Investors also seem to be highly interested in trade areas.
     The main problem investors expect this year is the inability to find enough suitable offers to meet the high demand, Dnevnik reported.
     Bulgarian companies will also increase investment in the sector. Currently the stock exchange lists 13 investment trusts, specialised in property. Three more companies will be listed soon.

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