Is the Bulgarian Market set to Bottom Out?
10th December 2009
Predictions that the Bulgarian Property Market will bottom out within three months could mean that the sector could start improving from the middle of 2010.
Speaking at the BalRac real estate market conference in Sofia, head of economic research at UniCredit Bulbank Kristofor Pavlov said there will be three more quarters of price falls before the market stops declining.
This could mean improvements in 2010 ahead of the end of recession in the country which Mr Pavlov suggested is likely to still be around this time next year.
This could make Spring or early Summer next year, the perfect time to invest in Bulgaria.
However, according to lifestyle and Investment magazine Quest Bulgaria, those investing should concentrate on the upmarket towns and villages as opposed to the popular Black Sea Coast Developments where there are concerns arising from over -building and the creation of a 'fish & chip' culture in the manner of the Spanish Costas.
That hasn't stopped the Russian Investors snapping up bargains on the coast though with many buying in to the countries tourist resorts. According to Property Abroad, The Country's property has always been the cheapest but suffered from an oversupply situation in the past couple of years, this situation should even out between countries, as other nations also have supply issues.
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