What to expect with Bulgaria joining the EU in the field of real estates?
This and many other questions every investor interested in Bulgarian property market begins to give on the brink of the accepting of Bulgaria in the European Union on the eve of 2007. Buyers, on one hand hurried up to put in their funds as they were afraid of drastic price rise. Owners on the other hand - were reserved from selling or they announced prices of estates much above their real market value making it impossible to sell. If we take a serious view, everyone played and everyone lost, because the property market revived for a short period and then after the holidays stood still in expecting the miracle. Miracle with our joining the EU didn’t happen, and there is no way to happen. We should expect real market economy in which conditions of the market are defined by the searching and offering and not by someone’s wish or expectations. The forecast is property rise with approx. 10-15 %, after that a slight drop is expected, subordinate to the real market mechanisms.
Prices will reach the European level faster than our income, which to great extend is determined by the presence of the foreign buyers on our market. Our purchasing ability is defined by our earnings and by the interest levels of the credits.
Changes will of course take place but they will rather be in directing buyers’ interests towards the vacation settlements and rural properties. Orientation will be in ecologically clean and pure regions close to big towns and popular resorts, mineral springs and water basins. Clients will pay more attention to availability of good communication and developed infrastructure to the estates. More people will be those who will consider a property purchase not just as an investment but a necessity for satisfying his needs and dreams for peacefulness and tranquility among beautiful nature
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RESIDENTIAL PROPERTY PRICES HAVE AGAIN RISEN UP REASONABLY
From the beginning of 2007,home prices have raised up with average 15-20 % ,as in some regions ,the height reaches 25 %.
Bulgaria – the cheapest destination in the EU
Bulgaria is popular and favorable for investments of vacation properties.
Double profit from properties in Bulgarian capital- Sofia
Profitability from investments in properties in the capital is expected to increase untill the end of the year
