Categorized | Featured, International

Bulgarian Property Market Will Remain Stagnant in 2012

Bulgarian Property Market Will Remain Stagnant in 2012
Please Share!

According to the most recent data figures regarding the residential real estate market in Bulgaria, property prices fell by roughly ten percent across the country in 2011. The market is not expected to improve in 2012, as many analysts believe that prices will remain flat throughout the year.

Some areas of Bulgaria experienced significant drops in 2011, with cities that were once some of the most popular international real estate markets experiencing price declines that exceeded twenty percent.

Residential property sales across the country have fallen tremendously, leading prices to do the same. Some real estate experts from Bulgaria believe the market is approaching its bottom. The declines have largely been due to the massive decrease in demand, as investors and potential homebuyers are hesitant to enter the market in its current state.

Only two and three bedroom apartments have performed up to expectations in Bulgaria, as more buyers are looking now for properties in the lower price ranges.

If the market has, in fact, bottomed out, it is likely that the market will remain stagnant in 2012. While real estate agents across the country hope for a rebound, such a performance is highly unlikely. Even sales in the typically more popular tourist cities have fallen significantly.

There is no clear indication as to when the Bulgarian residential real estate market will finally see signs of improvement, though it is clear that any kind of increases in the market will not take place for at least another year. The Bulgarian government has not yet put a plan in place to combat the declining residential real estate market.

Please Share!

About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

Leave a Reply

Twitter Chat