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BULGARIAN PROPERTIES' Chief Operations Manager for TV7: There is Already No Difference Between Asking Price and Deal Price

BULGARIAN PROPERTIES

A report broadcasted in the news of Bulgarian TV7 channel on August 8th 2010 comments that according to real estate brokers in Bulgaria property prices will remain stable, but there is a possibility of another decrease at the end of the year. The direction in which the market will go depends on when the country’s economy will start recovering. For now there aren’t many buyers but those with ready cash are more confident due to the low property prices at the moment.

The beach property and rural house market is also active in the summer as a lot of foreigners are also interested in those segments. The prices of these types of properties are stable and are expected to remain so until the end of the year, but there is a chance for another price decrease, experts say.

According to Polina Stoykova – the Chief Operations Manager of BULGARIAN PROPERTIES, in March and April 2010 there were more buyers and an increase in the number of deals, after which May saw a considerable decrease in the interest and in the number of realized deals. In June and July the market became more stable and reached the levels from 2009. Ms Stoykova added that this year we are witnessing a merge of the asking prices and the prices at which deals are concluded, i.e. the difference between the asking and the sale price is already gone. According to BULGARIAN PROPERTIES’ Chief Operations Manager there is a chance for the market to hit a second bottom, after which would start the real recovery of the Bulgarian property market.

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© Bulgarian Properties Ltd. 2010.


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