BULGARIAN PROPERTIES

In the second quarter of 2010 the Bulgarian property market gave very diverse signals. Increased number of deals in April was followed by a very weak May and return to normal for the crisis levels in June.

The first quarter of 2010 was relatively successful for the real estate market in Bulgaria as the average activity on the market was 40% higher compared to the same period in 2009 – the most difficult period on the property market in Bulgaria.

According to BULGARIAN PROPERTIES' data, a total of 18% of the active offers on the company’s website are with discounted prices. For comparison, their number was only 5% in June 2009. The average percentage of decrease is 20%.

The rural property market in Bulgaria was also hit by the economic crises and the average prices fell with 53% in 2009 compared to 2008. Thus, these properties are now back to levels from 2004/2005.

2009 – decrease in property prices, postponement of purchases and search for bargain deals. 2010 – in anticipation of reaching the market bottom, price stabilization and increase in the number of realized deals.

This is a summary of the most important events on the Bulgarian property market in 2009, latest figures from November and forecasts for 2010.

It has already been a year since the Bulgarian real estate market was officially hit by the crisis. This report shows the latest data of BULGARIAN PROPERTIES about the current state of the real estate market in Bulgaria.

BULGARIAN PROPERTIES has founded its own consultancy company for business sales, mergers and acquisitions for Bulgarian companies. The new organisation is called BusinessForSale.BG and their website is www.BusinessForSale.BG

This article follows the trends on the Bulgarian office and shop commercial spaces in 2009 - average prices, price decreases in comparison with 2008, as well as top office and shop location prices.

The luxury property segment followed the general market trend towards a decrease in the number of concluded deals. The prices of elite properties remained relatively stable as the decrease didn’t exceed 20%. Luxurious properties will recover first.