Investors look beyond Sofia for plots of land
Due to high land prices inside the Sofia ring-road, purchasers were increasingly looking eastwards, Pari daily announced.Large firms were prepared to pay between 15 and 20 euro for land in the Sofia area for the building of logistics centres, according to property agents.
Interest in land had changed eastwards to Elin Pelin and Ravno Pole, but the top prices investors were willing to pay in such areas were lower on account of reduced earnings from rentals.
For near a year, international funds, specialising in the construction and management of logistic centres, had been testing the Bulgarian market. Their plans included large scale projects of tens-of-thousands of sq m east of Sofia's ring-road, but these plans have a hard limit on land prices, Pari daily reported.
International investors would come to Bulgaria with ready equations in which rental prices and building expenses were fixed constants.
A developed infrastructure, access to railway transport, in the neighbourhood of Sofia and the Trakiya and Hemus highways were the main reasons that attracted investors to Elin Pelin and Ravno Pole. The growth interest had led to increased prices for land, which was said to have reached 30 to 35 euro per sq m already.
I would like to thank Kiki on the wonderful work that she did in selling our apartment. She made everything run smoothly, she was always polite, punctual & answered any questions we had no matter how trivial some of them were. Very pleasant lady to do business with. Excellent service with smile.
— Gary, UK