Property Prices in Bulgaria Reach Balance Point

2010-11-11   |, 8.11.2010

The worst on the property market in Bulgaria is now over. Although there are no convincing signals for the beginning of a recovery yet there is room for optimism. After two years of crisis property prices found their balance point. Prices of real estate are at their lowest point. The exception is the industrial land and rural houses where demand is limited and prices are still dropping. These were some of the main conclusions real estate experts came to during a discussion forum held in Sofia at the beginning of November.

The last two difficult years have had a big positive effect in the market, experts agree. The reason for that is that all the mistakes the players in the sector made became obvious. The most important thing builders, investors and architects learned from the crisis is that whatever they do from now on must be of high quality.

According to the experts the residential property market did not come to a halt in the crisis. Moreover, lately the segment has been more dynamic. The number of buyers is increasing gradually and in time the big supply will be absorbed, experts forecasted. This year property prices remained stable; there are minimal drops which will most probably be under 10%.

The office and commercial property segment is also more dynamic now. Proof of that is the total of 3.37 million sq.m. of projects around the country which were restarted. Analyzers underscored that what buyers demand is good quality. That is why there will be a further price decrease only for those sites which do not comply with present requirements.

Although now all branch representatives are optimistic about next year the future will not be bright for all projects. One of the pessimistic forecasts is about the sale of off-plan properties which no longer have a place on the market. What is expected is developers to use financing from banks as buyers are now looking for a finished product. Big commercial sites will also probably not be built in the next 5 years. However, there might be a boom with production sites.


  Read more news

Properties in Bansko
Buy your own property in the top ski resort of Bansko! An all-year-round resort suitable for winter and summer tourism with the best prices in Europe! Prices starting from as low as 10,000 Euros!
See More

Street Food & Art Festival in Burgas is a New Concept for an Urban Festival

Street Food & Art Festival is a new concept for an urban festival, its organizer Nikolay Todorov told Focus Radio.

The festival, held with the support of Burgas Municipality, is taking place in Burgas. More than 15 of the Best Street Food culinary artists in Bulgaria have been invited, Todorov said. "We are talking about mobile kitchens, kitchens on wheels, caravans, campers, truck... read more

13 August, 2019
Archeologists unearth church from 6th century near Gabrovo

An early Byzantine church, 20 by 10 meters in size, made from rock blocks and brick layers, with a floor lined with ceramic tiles has been discovered by archaeologists.

It has two entrances on the south and west sides and an interesting altar section, as it had benches where clergymen were sitting, as well as a bishop's throne in the central place, Professor Hitko Vachev said. He a... read more

13 August, 2019
Seaside Garden in Varna turns into large-scale arts and crafts exhibition

For the 23rd time the International Fair of Crafts and Arts Bulgarika will become a venue for a big number of artists and craftsmen. In the period August 1 21, some of the best artisans in the fields of fine and applied arts, crafts and music will participate in it. Traditionally, the audience will actively participate in the fair as they will be able to take part in crafts or arts workshops or... read more

13 August, 2019
Staro Zhelezare village once again hosts Street Art Village Festival

Until the end of August, the village near Plovdiv is once again hosting Staro Zhelezare Street Art Village Festival.

The village itself has no more than 400 inhabitants. Every year the people behind this project artists Katarzina and Ventsislav Piryankovi and students of theirs from Poznan, Poland, transform the place, painting and drawing on the walls of houses and fences.
... read more

13 August, 2019


Fatal error: Uncaught Error: Call to undefined function display_gdpr_fields() in /usr/hosting/bulgarianproperties-com/ Stack trace: #0 /usr/hosting/bulgarianproperties-com/ include() #1 {main} thrown in /usr/hosting/bulgarianproperties-com/ on line 114