Real estate agency firm Elta Consult claims that the global economic downturn will have a positive effect on the Bulgarian market in 2010, a company media statement said on March 3 2010.
The firm predicts that prospective buyers of a flat or a second home in Bulgaria will benefit from the crunch, and collapse in prices, and will be able to secure a good deal. Accordingly, this will make the market considerably more flexible that it was in 2009.
"A certain resurgence in the market was observed in the last quarter of 2009 when more deals were processed. The stimulus has come from real estate losing an average of 15 per cent of its value."
A similar prognosis emanated from Tihomir Tsakov, manager of Bulgarian real estate agency Aristo, who said that housing property prices in Bulgaria will hit rock bottom by the middle of 2010. They will then stabilise before picking up, rising by at least 10 per cent by the end of the year.
Source: www.sofiaecho.com
http://www.sofiaecho.com/2010/03/03/867445_experts-bulgarian-property-market-expects-resurgence-in-2010