According to the expert of real estate and Finance Svyatoslav Delchev in the program on Bloomberg TV Bulgaria, Bulgarian real estate market is in the early phase of the boom. The excess supply of housing which will trigger the next recession, will peak no earlier than 2025.
According to experts, the real estate market characterized by cyclical development. The duration of the long term cycle is about 18 years old – 4 years of recession, 7 years of recovery and 7 years of boom.
The previous boom cycle ended in 2008, a large-scale recession that lasted about 4 years. Then began a phase of market recovery which is still ongoing.
Mr. Delchev said that now we are in the beginning phase of the boom, and we expect several years of strong growth in the property market.
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