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Bulgarian REITS diversify portfolios with residential projects

Stroitelstvo Gradut Weekly reports that REITS are increasingly interested in the residential real estates market after the significant increase of prices in the segment registered last year.
The funds, which invest mainly in holiday and commercial plan, are starting to diversify their portfolios with residential projects. Many of the investment confide that appeared on the market at the end of 2007 or at the beginning of 2008, are targeting the residential segment.
The preferred location for residential real estates is Sofia, which is so far the largest market in terms of volumes.
The Financial Supervision Commission has licensed four properties investment trusts in January alone. The names of new developers include Sofia Buildings, City Properties, Roi Property Fund and Bulgaria Reserve Properties.