The real estate market in Bulgaria expect positive changes in the second half of 2009, the report of Colliers International.
Bulgaria in recent years was one of the most popular destinations for property investment. But then the Bulgarian property market was gripped by crisis, accompanied by a sharp drop in interest from foreign buyers and a significant excess in the number of offers over demand, especially on the black sea coast.
Data provided by Colliers International show that the average cost of housing in Bulgaria in the first quarter of this year decreased by 14% compared to the same period last year.
The company believes that the cost of housing will decline for some time, but only slightly, and in late 2009 – early 2010, we should expect the stabilization of prices.