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Property investors bide their time for dirty cheap offers

Real estate investors are unlikely to come back to the Bulgarian market before prices fall to substantially low levels, real estate consultants Forton International forecast in their latest report. Investment deals were only sporadic in the first quarter of 2009, and buyers mostly just studied the offers despite the increased supply. Sellers and buyers still cannot match each others requirements. "Bulgarian sellers should know that at the moment foreign investors are comparing returns offered by Bulgarian properties with similar properties in Western Europe, where rental contracts are much longer and the judiciary is effective," said Mihaela Lashova, investment sales manager at Forton. In a new trend that has emerged on Sofia& rsquo;s office space market, tenants are seeking out ways to optimise costs through rent workouts, look for cheaper offices or rent on some of their office space to another company. Landlords, on the other hand, have come up with new incentives for tenants such as...