08.10.2007

Developers showcase top offerings at BalPEx exhibition

A pipeline of real estate projects from major developers were on display at the Balkan Property Exhibition (BalPEx) which wrapped in Sofia on Sunday.

Judging by the scale and number of the showcased projects, the indications on both the supply and demand side are that the Bulgarian market seems unlikely to be sucked into the U.S. subprime fallout, which has spread to some Western European states.

An overview released by think-tank Industry Watch values the Bulgarian construction industry at 2.3-2.6 bln euro annually. The figures indicate that the construction industry is absorbing a third of foreign direct investment and there is nothing to suggest that growth pace will slow down, said Industry Watch.

The exhibition was dominated by residential projects where asking sale prices showed no signs of abating. Prices for the latest batch of gated up-market housing developments start at around 1000 euro a sq m.

Source: www.propertywisebulgaria.com