27.01.2009 BULGARIAN PROPERTIES Publish 2008/2009 Annual Property Market Analysis

BULGARIAN PROPERTIES Head Office

BULGARIAN PROPERTIES published their analysis of the property market in Bulgaria in 2008 based on empirical data from real completed property deals, as well as the forecasts for 2009.

You can read the full analysis here.

The main trends in 2009 will be the following:
• Property prices will not increase. It is most likely that the prices of quality properties will retain their current levels while the prices of properties that are of bad quality, with bad location, the Soviet-type blocks and some of the holiday homes will decrease to a certain extent.
• The clients will become more and more demanding towards the quality and the parameters of the properties they seek.
• New construction will be reduced to a minimum and not many developers will stay in the business.
• Many of the building projects will be on stand-by or will not be started at all. There will also be such which will be put on hold and will remain unfinished.
• The price of standard development land will decrease significantly. This will also be valid for the compensations.
• The market will work in favor of the buyer and the sellers will be more disciplined and inclined to make discounts.

One day after BULGARIAN PROPERTIES made their analysis public the National Statistical Institute published its regular statistics of the Bulgarian property market.



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