Valuable properties most demanded in the summer
Presumably, the property market is expected to be more active during the upcoming summer season considering the summer holidays. Main buyers in the cities will probably be the Bulgarians who work abroad, most of whom return to Bulgaria within one month who aim at investing in real estate by means of their saved money. The spring-summer analysis of 2014 of the National Real Estate Developers reveals. The urban property market in the capital city of Sofia does not expect any surprises. The analysis shows that the interest in the valuable properties that do not change their price, will continue to grow.
The expectations regarding the sales to Russian citizens in relation to the situation in Russia and Ukraine as well as to the devaluation of the Russian rouble could lead to either buy slash or increase.
The developers from the cities of Varna and Burgas, respectively, are optimistic and they expect that the trends are probably going to be the same as in 2013. They reckon, that the holiday properties on the Bulgarian Black Sea coast are going to be bought by Russian citizens which could probably result in slight investment slump in the residential properties due to the devaluation of the rouble compared to the US dollar and the euro.
A developer from the regions of the winter resort of Bansko and the coastal resort of Pomorie announces: I expect an average to weak holiday properties season due to the complicated situation in Russia and Ukraine and the continuing devaluation of the national currencies of both countries.
As far as the domestic property market in Central Bulgaria is concerned, the developers from this region expect that the difference between the offered price and the optimum sale price would continue to shrink as the buyers are anticipated to take advantage of the best possible price without clinging to the levels before and around the crisis.
A new tendency is when middle-aged buyers invest the money from regulated plot sales in small-sized residential properties. Sporadic deals are expected in the centers of small towns regarding market prices of properties with good liquidity, convenient location and in very good condition. The main clients are those who have good incomes and saved money and who have waited for a price decrease down to the levels as they were from 2005 to 2006.
As we talk about buying a second property in the villages located in the Bulgarian central mountainous region – Gabrovo, Tryavna, Veliko Turnovo and Elena, the traditional old houses keep being demanded. They are suitable for a one-week holiday and are situated in settlements distinguished for well developed infrastructure. High-standard repaired properties of British citizens who leave the country, are also demanded. A slight growth in industrial areas for building small storage units and production premises has also been accounted.
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