Bulgaria not doing so badly
Whilst the construction industry lives frugally on whatever development opportunities exist in Bulgaria, Russian investors have a keen appetite for the country. This is not surprising given the recent data published by the National Statistics Institute over the price of real estate in Bulgaria.
It shows that anyone looking for property to buy in Bulgaria in the first quarter of 2010 would have typically paid 18% less than an investor doing the same in Q1 of 2009. There is a healthy supply of buyers looking for investment property in Bulgaria, and whilst the country may view 18% as being undesirable, its still only around half of what Spain has experienced in tumbling values, added to which there is a lot of confidence in the modern Bulgarian Government.
Prices expectedly fell by 2% between the last two quarters, as industry experts see the first half of 2010 being the trough of the market, with recovery & price increases expected thereafter. Investors keen on buying property in Bulgaria need to be moving on deals quite quickly to maximise on the market status.