Industrial property market in Bulgaria is poorly developed as property supply meets 60 per cent of demand.

Most warehouses, production facilities and logistics centres offered on the market are old and in bad condition while prices fail complying with market criteria, Pari daily reported.

Monthly warehouse rent in Sofia vary between 3.5 euro and 4.5 euro per sq m and sales prices between 450 euro and 500 euro per sq m.

The report said that a good opportunity for long-term renting is municipal property due to low prices. Such properties require sufficient amount of initial investment in repair works and reconstruction as the buildings are usually old and in bad condition.