Real Estate Growth Trends
21.05.2008
Fast affluence heaping and the striving toward higher living standards will shape demand on the property market in Bulgaria, Christofor Pavlov, chief economist at UniCredit Bulbank, sad the Annual Summit of the European Bank for Reconstruction and Development in Kiev, Ukraine.
Bulbank anticipate that the growth of loans and the evening-out of real incomes to continue to hold up growth in residential prices notwithstanding that the market will remain far from the growth rates observed during the past year, Pavlov wrote.
In the next few years the prices of the real estate will slowly easy. That was shows by the balance of demand and growth factors.
In the context of the global financial crisis, there were clear signs for delay of foreign demand.
The last quarterly data for the number of real estate deals registered in the Registry Agency also showed that the market reached a new peak last year.
A number of real estate brokers said buyers of vacation homes are on the decline, while a large number of speculative investors are on the selling streak in a bid to cash in on purchases.