16.03.2018 Polina Stoykova for Bloomberg TV: There Is No Prerequisite for Real Estate Bubble
There is no prerequisite for a property market bubble. This was stated by Polina Stoykova, CEO of Bulgarian Properties, on the occasion of Business Meeting with Tanya Krasteva.
She pointed out that currently the property market is being driven by local demand mostly.
"And it is linked to the fact that the economy is growing, people feel more secure about their jobs, unemployment is low, and they need housing. Bank lending is at its most affordable level ever since it exists."
According to her, this provides prerequisites for increased demand, but it would not be endless.
"This is a local, small market though. This year there will be a normalisation and not such a big rise in prices. We see a delay in the absorption of the projects. There is no prerequisite for talking about a bubble at the moment. "
"We do different things and one of them is related to the automation of the real estate valuation. This is one of our latest developments," said Stoykova.
She explained that the development is related to the creation of indexes for the property market all over the country for residential properties.
"With these indexes, an express, instantaneous assessment based on automation can be done."
See the full material and video on Bloomberg TV website
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