Sun, Nov 22 2009

Bulgarian real estate slumps in value

Tue, Oct 21 2008 13:26 CET byNick Iliev 275 Views

The Bulgarian real estate market has enjoyed years of gradual growth, with prices constantly being on the upturn providing a healthy climate for the sector. These were the days of predictability and affluence. Not anymore, being on the outskirts of the hurricane of financial trubulence slowly approaching the country from the West, prices have taken on a sharp decline, as offers on the leading property websites in the country show.

Single family homes, shops, offices and land plots are show a decline ranging from two per cent in the most modest instances to as much as 10 per cent in larger towns and cities across the country, data from websites topimoti.bg, imoti.net and imot.bg shows.

In some grimmer cases, owners have slashed prices by as much as half in a direct consequence of the global credit crunch, the subsequent rising inflation and the waning purchasing power of the population.

For the full story, please visit propertywisebulgaria.com

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