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Good news if this is to be beleived I found it in the Bg rag

Bulgarian Experts: Real Estate Prices to Hit Bottom in 2011

In 2011, priced for apartments in Bulgaria will hit bottom and go upwards by the end of the year, according to forecasts by real estate experts.

“Prices for residences in 2011 will remain at their historically low levels. We expect them to be stable in the big municipal cities. We also expect a delay in the drop of prices in the country in general,” said Teodora Dimitrova, executive director of the Bulgarian office of ERA.

Real estate agents from Elta Consult also think that drastic changes are unlikely to occur next year.

“Even if the market has not hit bottom yet, it is close to it for sure,” said Polina Stoykova, operations director at Bulgarian Properties.

Data from the national statistics showed that the average prices for apartments have returned to their levels from three years ago.

In the third quarter of 2010, the average price was BGN 960 per square meter. In the first quarter of 2007, it was BGN 988 per square meter.

Since Bulgaria’s entry to the EU, the prices started to go up from 2007. They continued to rise until the second quarter of 2008 and reached BGN 1,418 per square meter. Then, they started to go down.

According to Polina Stoykova, an increase of the number of deals would be the first positive factor that the property market is getting out of the crisis.

Teodora Dimitrova has pointed out that the demand for residences will depend on employment, salaries and access to credit. In her words, the real incomes of people continue to decline and the perspectives for employment are not clear, which makes people limit their expenses for everything, which is not a necessity.

coriolanus wrote:

It has been said by some pundits, that it will be approx 5 years from now before prices go up again - I would tend to agree with that apart from the odd upward blip in that period.

I fully agree,

According to me the lower levels will continue in 2012 and may be in 2013. The property market can not recover so fast, the investors should recover their trust into Bulgarian property market.

Bulgaria Lawyer
[url:1k6qxwo9]http:
//www.
PamporovoSolicitors.
com[/url:1k6qxwo9]

davshaz wrote:

From what I can gather from an rea friend of mine the Russians only seem to want something for nothing and tend to waste more time than any other buyer

That is precisely right from my last two experiences with Russian clients. One wanted a huge property near Varna/coast. She went to look at a huge house 6km from Varna. This really is a bargain at Euros 14,900. However, it was too expensive at this price, so she did harp on about building a swimming pool when she bought (about 10K Euros). Eventually bought some shack near Dobrich, about 40km from Varna or the sea, which needed demolishing for about 2K Euros, so she will have to build a new house, but expect she will have that pool!!

BulgariaLawyer wrote:

coriolanus wrote:

It has been said by some pundits, that it will be approx 5 years from now before prices go up again - I would tend to agree with that apart from the odd upward blip in that period.

I fully agree,

According to me the lower levels will continue in 2012 and may be in 2013. The property market can not recover so fast, the investors should recover their trust into Bulgarian property market.

Bulgaria Lawyer
[url:1rzlnbdq]http:
//www.
PamporovoSolicitors.
com[/url:1rzlnbdq]

I still think there will be that "
upward blip"
before the end of 2011, but, essentially, no significant rises for 5 or 6 years.

coriolanus wrote:

BulgariaLawyer wrote:

coriolanus wrote:

It has been said by some pundits, that it will be approx 5 years from now before prices go up again - I would tend to agree with that apart from the odd upward blip in that period.

I fully agree,

According to me the lower levels will continue in 2012 and may be in 2013. The property market can not recover so fast, the investors should recover their trust into Bulgarian property market.

Bulgaria Lawyer
[url:5gitynqw]http:
//www.
PamporovoSolicitors.
com[/url:5gitynqw]

I still think there will be that "
upward blip"
before the end of 2011, but, essentially, no significant rises for 5 or 6 years.

May be good properties with a very good location will keep their value, but I am not quite sure about that. The proplem now is that many people wish to sell and just a few to buy. They have many offers and the conpetition between the sellers puch the prices down.

Bulgaria Lawyer
[url:5gitynqw]http:
//www.
PamporovoSolicitors.
com[/url:5gitynqw]
[url:5gitynqw]http:
//www.
BanskoLawyers.
com[/url:5gitynqw]

You are completely right its a buyers market and the prices will continue to fall for quite sometime to come

BulgariaLawyer wrote:

coriolanus wrote:

It has been said by some pundits, that it will be approx 5 years from now before prices go up again - I would tend to agree with that apart from the odd upward blip in that period.

I fully agree,

According to me the lower levels will continue in 2012 and may be in 2013. The property market can not recover so fast, the investors should recover their trust into Bulgarian property market.

Bulgaria Lawyer
[url:1khwr3i8]http:
//www.
PamporovoSolicitors.
com[/url:1khwr3i8]

I still think there will be that "
upward blip"
before the end of 2011, but, essentially, no significant rises for 5 or 6 years.
[/quote]

May be good properties with a very good location will keep their value, but I am not quite sure about that. The proplem now is that many people wish to sell and just a few to buy. They have many offers and the conpetition between the sellers puch the prices down.

Bulgaria Lawyer
[url:1khwr3i8]http:
//www.
PamporovoSolicitors.
com[/url:1khwr3i8]


I firmly believe the situation here now is that expat (primarily) British buyers that do not want to face the truth are keeping their high prices are not selling. On the other hand, the Expat buyers that see the way the land lies are selling at up to a 70% loss on 2007 and pre 2007 prices (say from 2004 on). Bulgarians traditionally have more than one property. Those that really want to sell are reducing their prices and selling in line with the market. Others just retain their higher prices and will wait it out for 5 or 6 years or however long it takes. It is primarily the Russians that buy if the price is right.

Regards, George.

The Russians and the German Turks are buying here in south Turkey. But many British expats are moving to the SE corner of BG, many more are going when they have sold their property here and so the market in that area of BG should hold up the prices a bit more.

itchyfeet wrote:

But many British expats are moving to the SE corner of BG, many more are going when they have sold their property here and so the market in that area of BG should hold up the prices a bit more.

Let's hope some of you guys move up to the ne of Bulgaria and bolster the prices here or we are likely to slide into oblivion!

coriolanus wrote:

itchyfeet wrote:

But many British expats are moving to the SE corner of BG, many more are going when they have sold their property here and so the market in that area of BG should hold up the prices a bit more.

Let's hope some of you guys move up to the ne of Bulgaria and bolster the prices here or we are likely to slide into oblivion!

You are more likely to slide in the snow up there aren't you George!! My joints creak of the thought of the cold in the North of BG, after 4 years of living in Turkey I am only made for heat now. July and August too hot though, I need a drip tray before I sit in a chair on the patio!!!!
Eric

itchyfeet wrote:

coriolanus wrote:

itchyfeet wrote:

But many British expats are moving to the SE corner of BG, many more are going when they have sold their property here and so the market in that area of BG should hold up the prices a bit more.

Let's hope some of you guys move up to the ne of Bulgaria and bolster the prices here or we are likely to slide into oblivion!

You are more likely to slide in the snow up there aren't you George!! My joints creak of the thought of the cold in the North of BG, after 4 years of living in Turkey I am only made for heat now. July and August too hot though, I need a drip tray before I sit in a chair on the patio!!!!
Eric

Don't be silly, Eric :Sunny:It's not cold up here - a cozy and bracing minus 8 this morning at 05.00 - just what you need to wake you up properly

Iv'e woken up properly George - it is a pleasant 12C here this morning and I climbed out of bed when the clock hit double figures. It's all go down here, my day is action packed from start to finish. I will look forward to seeing you in BG and visiting your shop, there is plenty we will need to buy to fill up the cupboards with food when we finally arrive in BG. Are you ever on the ? Have a lovely day now, I know we will!!
Eric

itchyfeet wrote:

Iv'e woken up properly George - it is a pleasant 12C here this morning and I climbed out of bed when the clock hit double figures. It's all go down here, my day is action packed from start to finish. I will look forward to seeing you in BG and visiting your shop, there is plenty we will need to buy to fill up the cupboards with food when we finally arrive in BG. Are you ever on the ? Have a lovely day now, I know we will!!
Eric

WHEN THE CLOCK HITS DOUBLE FIGURES That is quite appalling. In Bulgaria, we all have to get up at 04.00 or 04.30 to keep up with the work. Not going to be the bed of roses you imagine, is it?

Are you sure you will be able to make it up to the shop? It may be too cold for you up here

I am on chat very occasionally.

Regards, George.

coriolanus wrote:

itchyfeet wrote:

Iv'e woken up properly George - it is a pleasant 12C here this morning and I climbed out of bed when the clock hit double figures. It's all go down here, my day is action packed from start to finish. I will look forward to seeing you in BG and visiting your shop, there is plenty we will need to buy to fill up the cupboards with food when we finally arrive in BG. Are you ever on the ? Have a lovely day now, I know we will!!
Eric

WHEN THE CLOCK HITS DOUBLE FIGURES That is quite appalling. In Bulgaria, we all have to get up at 04.00 or 04.30 to keep up with the work. Not going to be the bed of roses you imagine, is it?

Are you sure you will be able to make it up to the shop? It may be too cold for you up here

I am on chat very occasionally.

Regards, George.

As far as I am concerned there is only one 4 o'clock and that's the one in the afternoon!! I did remember the other one when I was working though, happy to put that behind me now. I left the UK to retire and have never stopped doing things here in Turkey, how I ever had time to go to work I shall never know!!! We have just had our morning Porridge and I am now taking 2 of my dogs for a walk, probably along the beach in the sun, you remember that thing . . . it's yellow and it hangs up in the sky!!! When we are in BG they will go out in the field, sorry, I mean garden, the houses have a lot of land there I notice, but in the meantime the beach will have to do.
Regards, Eric

If you buy a property in a place where people speak a little bit English, or your language, I think the foreigners will like Bulgaria very much.

Hi,
We all know of the hype that the papers, can spread you only have to look at the past to see how they held Bulgaria, so high and buyers were like lemmings which in some case led to strife. I hope that something happens soon in Bulgaria for the property market and the economy in general.