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The influence of Malls over the market of commercial property rentals
03.10.2006
Until recently only the Bulgarians traveling abroad had the opportunity to enjoy the marvel of this consumerist century- the so called Malls (from Eng- a large building accommodating numerous stores of various characters). Now in Bulgaria several Malls came into the market and despite their fresh advent they have already managed to influence the market of commercial property rentals. Despite the observed tendencies, however, still more time is needed for their integral effect on the market to be evaluated. Nevertheless, one thing is for certain- as throughout other countries the Malls managed to pull away a tasty chunk off the stream of people on the main commercial roads. Malls are usually preferred due to several simple conveniences they offer: large and free of charge secured parking which contrasts with the problematic, with regards to parking spaces, area of central Sofia; well kept area in between of stores in comparison to the usually unclean central streets; security surveillance; and lastly the presence of restaurants, playgrounds, and cinemas where children could be left so that one could fully enjoy the shopping experience. Such advantages reoriented numerous leading brands towards the new market niche especially with all the international companies having substantial experience with retail in Malls. At present, larger companies rent commercial properties in Malls and also keep stores on main shopping streets so as to test which location will prove to be more advantageous. It is expected that with the advent of the new Malls retail prices of goods and services will be regulated. In Bulgaria this type of market is still at an early stage which offers good potential for further development. Additionally, the so called “Outlet Malls” are to be expected soon which will offer broader assortment of goods and services so as to allure larger stream of customers.
Source: Stefan Zhelev, Yavlena Ltd
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INTENSE INTEREST IN INDUSTRIAL PROPERTIES
30.05.2007
Since the beginning of year 2007 the market of industrial properties and plots seems to be more dynamic. As a result of the growing interest, YAVLENA offers more industrial... |
LETTING OUT OUR PROPERTY FOR RENT – SOME GOOD PIECES OF ADVICE
29.03.2007
Why do we try to let out our property for rent more quickly? Because not the monthly rent, but the average annual profit is of greater importance! Here are some good pieces... |
The Real Estate Market in August
07.09.2006
For the month of August the real estate market was exceptionally dynamic. Buyers were primarily Bulgarians who were mainly interested in land purchases. The closed deals in... |
The market of vacational properties is experiencing a decline.
01.09.2006
For the last six months a distinct decline in the volume of concluded deals has been observed for vacational properties (second home type). This decline is correlated wit... |
Internationalization of the real estate market
29.08.2006
The range of the nationalities of foreigners who buy real estate in Bulgaria has increased. In general, for the last 15 years foreigner buyers were predominantly customers ... |
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