Банкеръ Weekly

Briefs

SALES OF SHOPS IN PLOVDIV BOOM

Real estate brokers in Plovdiv report there has been an unexpected growth in the supply of shops from the beginning of September. Agencies in Sofia alone offer about three hundred shops for sale. There are at least 300 more offers in Plovdiv. Among the reasons for the large-scale supply of commercial estates are the high rents as well as the regular adaptation of various estates (especially in the quarters) for trade purposes. Some of the most expensive and largest shops are offered in business centres still under construction. There are two offers of the type on the market right now - with built-up ground exceeding 1,200 sq m and worth EUR800 to EUR950 per square metre. Sites that offer easy access by car and parking lots are usually sought for the construction of such centres - for example, in the proximity of existing hypermarkets which are already numerous in Plovdiv.People who want to buy a shop and start a family business can find a sufficient number of offers, too. However, the smaller the shops, the higher the average price - for example, EUR1,000 per square metre is requested for a 40-square metre-shop in the Vastanicheski quarter.The average price of shops offered in Plovdiv is about EUR700 per square metre. Brokers forecast that it will not change significantly, because there are sufficient deals on the market. Yet, the increased supply should result in a price decline by December 31, although that decline would not exceed 3 to 5 per cent. According to unofficial information, an investment in a commercial site in Plovdiv can be paid off for about eight years, if it is bought for running a family business which requires less spending by the investor.

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