Bulgaria drags the attention of the foreign business property investors again
The economic situation is the key factor for recovering the trust in the Bulgarian real estate market. This is the opinion of the participants in a conference about property investment which took place in the Bulgarian capital city of Sofia. Our country is able to offer high-quality assets with a very good profit and with lower risk. Conventionally, Bulgarian investors tend to take risks aiming at higher profit and getting involved in initiated projects or buying undervalued and troublesome assets. However, there already are elaborated, high-quality, liquid assets on the market that match the requirements of the foreign buyers thanks to the investors. If the market stabilizes and gets more liquid, the assets which the investors could obtain, could have the necessary potential to raise their value in the long term. Real estate deals are expected to increase on the market including business properties, investment deals in the field of the office areas, buildings with class A and commercial properties – these are the leading projects and the most preferred ones.
Other key trends are going to be the recovery, the restart and the replacement of troublesome assets.
A managing partner highlighted the expected deals growth in the region of Central and Eastern Europe. However, the debt crisis is no more the main reason for the deals. The banks are expected to be the most active especially as sellers and the property investment funds which are both buyers and sellers.
The recovery of the trust in the property market is the key factor for the situation of the real economy.
The real estate market is already stabilized, it shows a tendency for a slight increase and the trend for decreasing the real estate prices. After the crisis, only professional investors are the ones who stayed which enhanced the quality of the production and made it more competitive. Besides, the banks have gotten much more flexible and they are interested in funding high-quality projects.
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Buying property in Europe from the other side of the world, presents all manner of difficulties, even before one factors in the current martial law in Philippines , and Brexit ( for a UK passport ) in Europe. I had previous experience of buying in Bulgaria, and already knew a number of local agents. Kunka, I came to know about a year before I finally managed to make the return... she admitted that the extraordinary set of circumstances I faced, took more than a little understanding, since they seemed unbelievable. Nonetheless, she neither flinched, nor blinked, and with utmost patience, helped me through not only the purchase, but a whole heap of other problems. Both she and Hristov were kindness itself, and always stood ready to assist. Not only were they very capable as agents, and professional in every way, but their assistance has been extremely welcome, given the immense difficulties faced. With experience of agents here and internationally, I'm happy to offer the highest of recommendations for their professionalism , help well beyond the terms of house purchase, and for their sincerity and friendship. Andrew Davies
— Andrew Davies, UK