Odessa Investments, a development and investment company specialising in commercial property investment in central and eastern Europe, has published new research this month suggesting real estate in Romania and Bulgaria will continue to offer strong investment potential.
Analysis of Romania and Bulgaria suggest that where short lease lengths (averaging 5 to 7 years) and high occupier mobility, increasing demand for space and growing sophistication in terms of requirements from occupiers, together with planned improvements to transport infrastructure, combine to create significant opportunities going forward. Investment potential is particularly noted in the capital cities and increasingly in the country's larger secondary regions.
The latest edition of the firm's Market Review states that the commercial real estate markets in emerging economies, including countries in south-east Europe, Russia, Ukraine and Turkey, continue to outshine those in western Europe.
'The excellent performance of these real estate markets has been driven by high levels of growth, relatively low levels of personal debt, favourable demographics for real estate and major infrastructure investment,' says Odessa chief executive Gavin Bradley. 'Despite the current economic downturn, these fundamentals remain unchanged, giving these countries the edge in terms of returns.'
Odessa Investments, which has offices in London, Dublin, Bucharest and Sofia, was formed in 2004 to invest in commercial property in Bulgaria and Romania. The company currently manages five funds ranging with between EUR3m and EUR5m in assets on behalf of private clients and institutional investors.
Source: Property Funds World
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