The trends on the residential home sector

The panel dedicated to the situation on the residential home sector was one of the most interesting ones. The conclusions which the speakers came to created an optimistic picture of this sector. The participants held the opinion that the global crisis is already felt on the Bulgarian real estate market but that it has a favorable influence as it sobered up the sector. Another point on which the speakers were unanimous was that it is the quality projects that will be in demand and that will drive the market from now on.

The main conclusions that were made are as follows:

• Currently the residential sector is a balanced sector.
• The emotional state of the buyers has changed and the market must adjust to it.
• The smaller number of deals is the result of psychological and objective reasons.
• The logic of the market is dictated by a stand-by position. Now before buying a property the buyer carries out a much more thorough research.
• There is already a reasonable and adequate market; the deals will be less from now on and will be concluded slower than before.
• One of the main things when choosing a home will be the builder’s/developer’s reputation.
• The developers in Bulgaria must guide themselves by the resources of the clients.
• The most active client – the average buyer, is on stand-by and is waiting to see how things will develop.

The general tone of the discussion was optimistic and the big conclusion that was made was that the residential home market has potential as from now on it is only the quality projects that will be developed.

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