A new stage for the property market in Bulgaria

Five years of prosperity, then five years – crisis. For these ten years the young Bulgarian real estate market has experienced both extremes.

According to some analysts, it is time to leave the negativity, to push back from the bottom and go across the road, where we expect a positivism and normal development of the property market.
During the first five years, the question was: "how much will rise the prices of the housing over the next year –with 20% or 40%?
In the next five years, the question was: "are we at the bottom?" The answer is "Yes".

We are at a point at which the information from the property market already shows that there are signals of recovery (increased sales volume, halting the decline in prices, increased volumes of new grant credits, etc.).

The trends, which are confirmed through the last year are that the bottom has been reached, the prices have stopped falling, the real estate market is balanced and stabilized, transactions rose and began the process of slowly but surely getting out of the property market crisis.

The reasons for the beginning of revitalization are few.

Among them are constantly growing interest on the part of the Russians to the Bulgarian seaside resorts, as well as the decline of interest rates on mortgage loans.

In 2013 the real estate market felt and the effect of catching up – people who over the past five years have delayed the purchase of a new home, got the decision to purchase so desired property this year, and at a good price.

Without a doubt, the recovery will be a slow process, but we already have reason to stop talking about the crisis and to start talking about a period of post-crisis, which puts the start of a new stage of development of the property market.

This new period cautiously call – a stage, not cycle as the cycle implies an upward trend, and in the current market and economic environment it is more realistic to talk about the retention of the current prices for a prolonged period of time.