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Overview of the Bulgarian real estate market in 2011 and forecast for 2012
The end of the third quarter of 2011 marked 3 years since the beginning of the global financial and economic crisis. Regretfully, 3 years after the beginning of the crisis there are still no convincing signals showing the recovery of the economy and real estate market not only in Bulgaria but in most countries around the world. After the optimism and the forecasted economic growth which marked the end of 2010 and the beginning of 2011, in the last few months the sovereign debt crisis in Europe and the lowered credit ratings of a number of countries and big European and global banks led to a slowdown in the pace of economic recovery.
2011 was loaded with great expectations for the property market’s coming out of the crisis, but unfortunately not all of them came true as this depends not only the pace of recovery of Bulgaria’s economy and the internal processes in the country but it is also directly linked to what happens in Europe and around the world.
The positive news that came from the Bulgarian property market in 2011 was about the increased number of deals and lower interest rates on mortgage loans. However, at the end of the year the questions about what is to happen in 2012 become more and more on the background of general insecurity connected to the debt crisis and Europe’s future.
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Copyright: 2012 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of the source www.BulgarianProperties.com and the Author of the article. The data in this material has been collected by the Author and Bulgarian Properties Ltd. and is presented for information purposes only. We have made every effort to ensure the accuracy of the data. However, Bulgarian Properties Ltd. cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
© Bulgarian Properties Ltd. 2012.
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