Sofia’s Trade Centre grows taller

The Chief executive of the European Trade Centre has confirmed that the project will continue amidst news of other construction cut backs in the capital.

Property in Sofia had seemed to be doing well compared to most other real estate in Bulgaria. Investors throughout Europe eyed Sofia with interest, attracted by the high levels of employment within the city.

However, it would appear that the global bite has left its scar as a number of major office construction projects in Sofia, have been put on indefinite hold.

Colliers, a real estate consultancy firm, have described how office rentals have declined by 20% over recent months, after several years of continual growth. The cut backs to office construction were inevitable in light of the fact that many completed projects simply would not find new tenants.

These cut backs should not distract anyone looking for property to buy in Bulgaria. Investment property in Bulgaria remains diverse, attractive, and still represents good value for money.