What's happening at the bulgarian property market
Of the property market in Bulgaria next year we can expect a reduction
of prices within 5-10%. This will happen if interest on mortgage loans
continue to grow and prices remain sluggish.
The credit crisis has reached Bulgaria in early April, but it affects Bulgaria less. Precisely because bulgaria's economics is not so dependent on the state
economy as the United Kingdom for example, in our expected a smaller
drop in prices of property.
Reduction of prices, which recently observed, associated with
keeping prices in smart election by the buyers. There is also the
accumulation of effects - interest on deposits increased, but they eat
are from inflation, and problems affecting the stock market in the
country. Despite all of these factors, however, Bulgarians is pragmatic
- it will always invest in property, considered Strahil Ivanov. In his
buyers in the market should focus on good investments in real estate -
the combination of good location and quality performance - that will
bring profit.
Currently the market in the capital to buy all the properties to
900 euros for square and expensive properties over 1200-1500 euros. The
average price varies between 900 and 950 euros square meter. In 1997
Bulgaria concluded 65 thousand transactions for the purchase of
property in 2007 the figure was 320 thousand Of which, however,
including agricultural land, citing statistics Ivanov. Still increased
interest in housing expert panel commented in the Bulgarian tradition
to live in neprezastroena environment in kindergartens and schools
nearby, and green areas. According to him, but we can expect a drop in
demand in this segment because the panel buildings are not long-term
investment. One reason for this is that our sanitation is not
practiced, but only Cool, which does not extend the life of the
building.
Foreigners seeking property in Bulgaria are mainly from the
former Eastern bloc, Greece and Romania, which increased, it is
important local interest. Invest in our country and Israelis, Britons
have been started to withdraw from the market before year and a half.
Strahil Ivanov indicated some of the surprises of home real estate
market - trend of rising prices on line in the Black Sea and the
unabated interest in the market in Bansko.
