Half of Bulgaria’s real estate deals remain in the grey economy
Profitability from investments in real estate in Bulgaria was between 6 and 7 per cent, Strahil Ivanov, manager of Yavlena said.He said, that on average, investments were returned after 15 to 16 years, .Almost half of the property deals in Bulgaria remain in the grey economy, according to research by real estate agency Yavlena.
The inquiry was presented on November 20 at the 10th economic forum of Central European Initiative (CEI), mediapool.bg said.
The real volume of property transactions in Bulgaria over 2007 could be close to 11.36 billion euro. The officially declared volume was expected to be around 5.66 billion euro. The transparency rate in the Bulgarian real property market was close to 50 per cent, according to Yavlena agency.
I would like to thank Kiki on the wonderful work that she did in selling our apartment. She made everything run smoothly, she was always polite, punctual & answered any questions we had no matter how trivial some of them were. Very pleasant lady to do business with. Excellent service with smile.
— Gary, UK