Quality projects and increasing demand are expected as regards the office and logistic spaces, as well as the residential properties.

The real estate market will become more and more attractive for the Bulgarian and the foreign investors in 2016. Those were the words of Maya Aleksova, Director of Financing at Corporate, Investment and Private banking at UniCredit Bulbank, during the BalREc conference on the investment projects and the real estate market. She also explained that the market moods may be defined as moderate optimism.

“We have enough premises to believe that next year we will witness new and quality projects when it comes to office and logistic spaces, as well as to residential properties“, Maya Aleksova predicted. The macroeconomic environment and the expectations by the economic team of UniCredit Bulbank of a GDP growth of 2.6% in 2016, as well as the reduction of the unemployment give rise to the search for good projects. An additional incentive for the market will come from the recovery of consumer expenses and the investments in 2016, thanks to several main factors. Among them are the maintenance of low fuel prices, the high percentage of utilization of EU funds, as well as the role of the export for the Bulgarian economy.

“Analysis show that nearly 2/3 of the newly opened job positions are in some of the highest-paying sectors in Bulgaria – the outsourced services in the sphere of the IT, the communications and the business services. This clearly marks the trend that the search for appropriate office spaces for the needs of the business will continue” Maya Aleksova also commented during the conference. Nevertheless, according to her opinion, the participants on the market have to aim for a sustainable development, as namely that is the lesson which everyone must have learned from the period 2007-2008.

The banks will support good projects with a developed business plan in the next year also. But, furthermore, the decision-making factors for the financing of a particular project will be the financial stability of the investor and the sufficient level of equity for sustainable project development.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch