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Bulgarian property market predicted to improve this year
The property market in Bulgaria will begin to improve in the second half of this year, a major property consultancy has forecast. Colliers has suggested that there will be a rebound in sales in the country in line with an improvement in the Bulgarian economic situation. However, according to the firm, there still remains a risk that when the market eventually turns there could be a shortage of high-end properties as a result of a lack of new developments and projects in 2010. Meanwhile, those interested in purchasing property in Bulgaria may be interested to learn that average prices in the country have fallen to less than 33 per cent of their market peak in 2008. Added to this, the number of building permits and new buildings had also fallen to well below their peak. Figures released by the National Statistics Institute show that the price of real estate last year fell to 964 leva per square metre, with the cheapest homes found in the town of Kyustendil. - PropertyShowrooms.com

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