The Bulgarian property market 5 years after the start of the crisis
For a period of already 10 years BULGARIAN PROPERTIES has been an active player on the Bulgarian real estate market and a direct observer of the processes that have been developing both during the 5 years of property boom and the subsequent five years of decline.
Over these years the properties were one of the most discussed topics in the public space as a measure and an epitome of the boom and the followed crisis. This is because over the years we all have seen that property prices respond quickly to economic trends and show precisely and in plain language in what direction the economy is developing, whether the economy is overheating during an upward cycle, or during a crisis - how serious it is and when the economy will start to recover.
Now time has come for us to say that the information from the real estate market is showing that there are signs of a started recovery (increase in sales volumes, price stabilization, rise in the volume of mortgage loans, etc.). On that basis we can conclude that the market bottom has been reached, property prices have stopped falling, the property market is now balanced and stabilized, deals have increased and the process of a slowly but steady recovery has started.
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