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BULGARIAN PROPERTIES participated in the economic forum "The Sound of Money" on 14-15 May 2014
BULGARIAN PROPERTIES participated in 'The Sound of Money' financial forum, organized by Profit.bg. The fifth edition of the forum was held on 14th and 15th May in Kempinski Hotel Zografski in Sofia city.
Polina Stoykova MRICS, Head of Operations and Property Research at BULGARIAN PROPERTIES, was among the speakers in the 'Property' panel of the forum. She commented on the key question in the discussion: 'Has the real estate market in Bulgaria improved and what will happen to the property prices?'
According to Polina Stoykova, the decline in property prices has ended and now is the right time to buy a property. 'The end of the price decrease does not mean that an increase will follow immediately. Instead, we expect price stability this year followed by small increases afterwards', she added.
The property sector in Europe is in the process of recovery. The same now applies to Bulgaria. All the participants in the forum agreed about this. 'We can't be too optimistic because of the slow economic growth and the still high unemployment rate. However, the good point is that the affordability of the housing is at its best historical level.'
'Our studies show also that the mortgage lending influences most directly the house prices and an increase in the granted mortgages would provide an additional boost to the property market. Unfortunately, despite the slight increase in the mortgages granted in 2013 and the continuing decline in interest rates, the buyers are still cautious in borrowing', said Stoykova.
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