NEWSLETTER

2009-02-24

25.02.2009 Real Estate – Possibilities in a Time of Crisis

The first anti-crisis conference in the real estate sector in Bulgaria - BalREAct - Reaction to Crisis was held on 20th February 2009 in the Kempinski Hotel Zografski, Sofia. The main topics which the participants discussed were the state of the legal framework regulating the property sector, investment encouragement and partnerships, the residential policy and the prices and quality on the real estate market.

The conference allowed the professionals in the branch, the financial experts, the representatives of the state and local authorities and the media to discuss the current economic situation in the country as well as the mechanisms for coming out of the crisis.

The participants in BalREAct were unanimous that the sector needs investment incentive policies, as well as improvement of the competitive power and the quality of the product. They also agreed that 2009 is the year of the property buyer.

Some of the main conclusions the participants made during the conference are the following:

• Buyers have become more demanding as now the key details for them are the location, the infrastructure, the amenities, the cleanness and the environment.
• The transparency when taking strategic decisions and the long-term strategy for the development of the real estate market are among the most important conditions for overcoming the current situation.
• At the moment the lending procedure is more complex as the banks require full transparency. The amount of the loan is reduced to about 70% of the property price as was its maximum term.
• The participants on the real estate market in Bulgaria are to sober down and there will be a natural selection which on its part will lead to a normalization of the market.
• The environment in the sector will make development companies invest in increasing the quality and introducing modern systems for the management of the building process and in the certification of the end product.
• Bulgaria is at the beginning of the crisis and if the professionals in the sector manage to analyze the good and bad anti-crisis measures which the other countries have undertaken then the crisis might not take such dimensions as in some other countries.
• After the difficult period is over the developing markets like Bulgaria will be among the most attractive investment destinations and will become a growth driver for a number of western companies as investment in real estate is easy to understand.
• According to experts in the sector now is the right moment to buy a home because buyers have a wide choice and can end up with a good deal.
• The participants in the sector expect that the market will become more active in the second half of the year.

View our hot offers


---
Copyright: 2009 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 this article.
© Bulgarian Properties Ltd. 2009.

Share
Properties with 360-degree virtual tours
Feel the unique atmosphere of Bulgarian properties with the virtual tours we offer! At any time, with just one click, you can travel to your dream home, with no need for appointments and trips.

The virtual tours are taken personally by our team and are with guaranteed authenticity. We show you every detail of the property, just like being live in there!
See More
Vitosha View - an exclusive residential development in Sofia
Vitosha View is a gated complex at the foothills of Vitosha Mountain. It offers urban environment combined with the home atmosphere and the greenery of a beautiful garden. Vitosha View enjoys an attractive location and is perfect for investment in the Bulgarian capital.
See More

More News

latest news
Market trends in Bulgaria at the start of the new season

We are slowly returning to our normal everyday lives and the Bulgarian property market is experiencing a growing demand and a rising volume of deals after the corona virus lockdown.

Here are the present market trends which mark the start of a new beginning for the property market in Bulgaria:

🔵 Technology stays with us to help us in the new reality! We will ne...

19 May, 2020
Press & Media
SeeNews: Sofia's avg housing prices up 4.0% in Q1

The average selling price of residential properties in Bulgaria's capital Sofia increased by 4.0% on an annual comparison basis in the first quarter of 2020, local company Bulgarian Properties said.

The average price of dwellings in Sofia reached 1,120 euro ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
...

11 May, 2020
latest news
Prices in Sofia increase with 4% in Q1 2020

High activity during the first 3 months of the year and acceleration of the price growth to about 4% on an annual basis. This is how the real estate market in the Bulgarian capital of Sofia developed until mid-March, when the state of emergency was introduced and many economic activities where put on hold.

Average Prices and Annual Change

In the first quarter of 2020...

08 May, 2020
latest news
The Sun: Bulgaria’s Sunny Beach hopes to welcome tourists by July

BRITS could return to Bulgaria's Sunny Beach as soon as July as the country reduces its lockdown measures.

To encourage tourists, beaches will also offer free loungers, sun beds and tables when they open again for business.

Bulgaria has managed to keep coronavirus cases relatively low - the country has reported just 1,704 infections, and 50 deaths.

A st...

07 May, 2020

REQUEST DETAILS