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The long-awaited rise in prices on the Bulgarian housing market, which experts had been anticipating since the crisis began in 2008, has finally arrived. According to Dobromir Ganev, deputy chairman of the National Real Estate Association, Bulgaria’s property market has grown by 4–5% over the past 18 months. In the major Bulgarian cities of Sofia and Plovdiv, the increase reached 17%.
For now, growth is being seen only in major cities and in villages near large population centres with well-developed infrastructure. In Bulgaria’s resorts, supply still exceeds demand, but the situation is expected to change soon in these regions too. In Ganev’s view, the Bulgarian economy has already emerged from the crisis, as indicated by positive GDP and export trends, so sooner or later resort properties that have remained unsold will find buyers.
Source: Newsbg.ru
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