Polina Stoykova on Bloomberg TV: We expect a growth of 7% of the property market in 2016

The mortgage interest rates have fallen below 6 %, while the bank lending is among the most powerful inducements to boost the property market.

That was commented by Polina Stoykova, Managing director & Head of Research of BULGARIAN PROPERTIES, in answer to the question whether the property market in Bulgaria will step up. The growth in the number of loans in 2015 reached 22%, while the property prices in Sofia increased by 6%, which means that the property market is on the rise. The average price of the Sofia properties is 800 Euro per square meter, stated Polina Stoykova.

"The prices of the off-plan properties are not necessarily cheaper, because there is not enough supply."

Stoykova further commented that we cannot talk about a boom in the construction: "These are very strong words. We had five or six years when the new building permits decreased progressively. Now they have grown with a double pace, but they are starting from a very low base. The process, however, is an indicator of what is happening on the market and what is to be expected in the near future, up one-two years ahead.

"The increase in the construction is insufficient to meet the current demand."

"The rural properties have 80% lower demand than their previous levels," said the expert.

Between 4 and 7% growth in the property market in 2016 has been predicted by Polina Stoykova. "The holiday market will develop in a positive direction and maybe this will be their most successful year since the crisis."

New ads for new build property for sale and rent in Bulgaria


  read more articles