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Analysis of the Bulgarian property market for 1Q of 2013
The year started in a very dynamic way with an increased number of deals in the first quarter which is confirmed by the data of the Bulgarian Registry Agency. Most of the activity was until the middle of February, when buyers were very active and there was even a shortage of quality properties for sale. In January sales almost doubled compared to January 2012 and this placed the month among the strongest months since the beginning of the crisis which is unusual for this time of year.
Since mid-February we entered into a short waiting period because market participants wanted to see how the political situation in the country will develop. After mid-March the market regained its dynamics and managed to catch up with the activities after the short pause. Currently the market is comparable to that of last year and it is developing according to our expectations of a similarity to the trends and prices from 2012.
The main difference from last year is that besides the activity in the segment of holiday properties market, we also see activity by Bulgarian buyers in the big cities especially in Sofia and Plovdiv. These are buyers who have been delayingthe purchase of their first homes for a long time now and they believe the time has already come.
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