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Talking About Bulgarian Realty

Surveys conducted among real estate web portals in Bulgaria have showed interesting results in terms of price and investment expectations. Target group were Bulgarians, non-experts in real estate, visiting the web portals either to submit an offer for selling their own property, or prospective buyers who wished to purchase on their own directly from sellers. The inquiries also allowed people to share their opinions and observations over the property market.

Results indicated that most Bulgarians expect property prices to keep rising or keep their current levels. Being asked how prices of residential real estates will change by the end of the year, more than 39 % of the people expressed expectations in price growth. A little less than 2 % is the difference between them and those who think that prices will decrease. About 38 % of the people believe that residential prices will go down by the end of the year. On the other hand, around 18 – 20 % of the people expect residences to keep their current prices. They believe that prices will not be subject to significant changes.

Around 10 % of the inquired people expect prices of residential estates to rise with more than 10%, compared to prices in 2007 and the turn of 2008. The majority, however, believe that there will be a steady increase of 5 % and no more than 10 %. Although many people voted that there will be significant decrease of 10 % and even more, most people shared opinions that such figures are too much and downsizing is likely only for low-prospective offers where neither a good location nor quality construction and infrastructure are available. It was also commented that cut-offs by building companies can be expected only in case a whole complex has been unsuccessfully marketed for a long time, in other words if the builders are having hard times selling their developments.

The surveys’ results also indicated people’s expectations in the price increase of both agricultural and regulated land. 38 % of all people answering the questions believe that land prices will go up. An increase of 10 – 20 % or above 30 % is expected by 25 % of the people. The other types of properties which are like to become more expensive this year are all industrial premises and office space.

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