Profitability of real estate deals in Bulgaria decreased nearly twice since 2002, research of Creditex showed.

Creditex representative Krasimir Goumnishki said that a 100 sq m apartment in Sofia’s residential district of Mladost brought nine per cent profitability in 2002, which had now fallen to 4.11 per cent.

The same tendency was valid for all of Sofia’s residential districts, Goumnishki said.

According to the research, the returns that companies advertised for coastal property were highly exaggerated. The actual value neared five per cent.

Profitability was higher for retail, logistics and industrial property.