The economic growth of Bulgaria will stimulate the property market predict experts

The expected growth of nearly 4% in the economy will have an impact on the property market. This reflects not only large investors but also households. This is predicted on Bloomberg TV in Boom & Bust show by the deputy speaker of the National Real Estate Association Dobromir Ganev.

He is categorical that macroeconomic fundamentals affect the real estate markets - the levels of income and unemployment, which are currently very positive and depend on decision-making when buying a new home.
"Migration is another factor that affects the real estate market in big cities. This is particularly noticeable in Sofia, Varna, and Bourgas, "the expert said.

He explained that the growth is due to business in the cities and depends on the coming of investors, but the construction of new dwellings even in the small towns, as well as the growth of the issued building permits.
"For Sofia there is a 30% increase in the new construction started in the first half of 2016 compared to the same period of last year," Ganev said.

According to him, this is due to the increased supply, but especially to the new projects, which are in line with the requirements of the buyers.
"They like current projects in terms of design and used materials of higher quality. Investors take this into account, "said the expert.

He reminded that the first quarter of the year showed quite weak results, "that has not been the case in the last three years". In his words, this is rather an accident and is related to the bad weather conditions - a serious factor for the sector.
"People do not like to look and make deals at such times. In the second quarter, there was a correction, but in general for the first half of the year there was only a 4% growth in Sofia and Varna, with the other cities reporting a decline, the expert said.