22.01.2009 The CEO of BULGARIAN PROPERTIES About the Property Market on the Bulgarian National Television

BULGARIAN PROPERTIES Head Office

Mihail Chobanov, the Executive Director of BULGARIAN PROPERTIES, commented the situation on the real estate market and the trends on the Bulgarian National Television morning program Denyat Zapochva.

Mr. Chobanov noted that in 2009 the prices of real estate in Bulgaria are not expected to increase but added that no mass decrease is expected either – this can happen only in certain segments. On the question about the situation on the credit market he answered that it is quite dynamic and that the situation there changes constantly.

BULGARIAN PROPERTIES’ Executive Director pointed out a couple of times that at the moment we are witnessing a market of lessors and lessees as most people are waiting to see what direction the real estate market is going to take.

On a viewer’s question whether the interest towards properties in the towns and villages around the big cities had increased Mihail Chobanov said that according to the company’s 2008 analysis more and more people are interested in the settlements around Sofia, Plovdiv, Varna and Bourgas and that there is a lasting trend on the part of Bulgarians to buy properties in these locations with the idea of moving to live there permanently.

In conclusion Mr. Chobanov noted that 2009 will be the year of the buyers with cash and of much more attractive real estate prices.

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