Coronacrisis has a healing effect on the Bulgarian real estate market
'It is still not clear if there will be a cure for the coronavirus any time soon, but the pandemic itself has become a cure for the Bulgarian real estate market and has made everyone rethink their behaviour:
• Developers to be careful with pricing and the design of their new projects
• Banks to have higher requirements for their borrowers
• Vendors to think carefully about the price at which they sell their properties and to become more flexible and willing to negotiate
• Buyers to better assess their capabilities
An additional positive effect comes from the growing interest in Bulgarian real estate not only in major cities but throughout the country. All this will contribute to the more balanced development of the market and the regions as a whole.'
This is what the Managing Director of BULGARIAN PROPERTIES Polina Stoykova MRICS said during an online discussion on the real estate market and the economy, organized by the National Real Estate Association with the participation of leading economists, analysts and real estate experts.
She added: 'Life is restarting and perhaps the decline we will see in economic growth and other indicators will be due to the complete stop we went through, which actually made it so that in 2020 we will have only 10 active months instead of 12. The most optimistic forecast is that we will be able to make up for this pause.'
Bulgaria has a real chance to become a top destination for tourism, real estate investment, travel and business.
At the moment we report a serious increase in interest in rural houses, as well as holiday properties in sea and mountain resorts. In view of people's desire to be out in the green in their own private space and not to depend on hotel reservations, we are optimistic about the development of the holiday segment of the real estate market, where there are currently excellent prices and a great selection of properties.
The participants in the discussion united around positive expectations and prospects for the real estate market in Bulgaria as investment in real estate is expected to remain one of the most stable and preferred options.
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At an official ceremony at the Sofia Event Center, Imoti.net presented their traditional annual awards.
BULGARIAN PROPERTIES once again received awards for their noticeable achievements in 2020 - this time for the Most dynamically developing company and for Best property advertisement for the campaign we made for our exclusive complex Park View Residence.
The coronavirus has made people want to own real estate, with the demand being highest for houses far from big cities.
Over the past year, the real estate industry has registered a rise in the number of real estate transactions as well as in property prices. People tend to prefer to buy rather than rent houses or apartments close to nature where they can work remotely during the pan...
We have now closed the second quarter of the year and we can say with certainty that 2021 will be stronger for the real estate market in Bulgaria than 2020. It will even be stronger than it used to be before the pandemic. We are entering the second half of the year with a real estate market in a top form, with a very high demand and a rapid absorption of available supply.
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