Bulgarian property market
The number of property deals taking place in Bulgaria has almost halved over the past year, a new report has concluded.Research carried out by Raiffeisen real estates found that processed transactions in the country fell 42 % in the first six months of 2009 when compared to the same period in 2008.
In the capital Sofia the decline was 58%, a possible indication that there may be a greater amount of real estate available to overseas property investors looking to buy in the city.
Potential buyers at all real estate sectors are waiting, with the only active [investors] on the market currently being those with riskier profile.
The news source noted that many potential customers are waiting to see if prices decrease to lower levels before making purchases.
Earlier this month, figures from the country's National Statistical Institute obtained revealed that prices rose 0.1 % in 2008 in spite of the economic downturn.
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