Just a little longer for Bulgaria
Real estate in Bulgaria is set for a slow comeback in 2010, with the downward trend expected to continue until the third or fourth quarters.
A report by the Foros agency expects that the supply of property will continue to diminish in the first half of the year, leading to a momentary balance between supply and demand.
Foreign investors are just not buying property in Bulgaria at the moment and investment levels from them dropped 60% between 2008 & 2009.
Rental and sales prices are expected to fall a potential further 10% in some locations, with mortgage uptakes being only around 5 to 10% compared to 65% in 2008.
Whilst this may not sound like a positive market approach, it does mean that anyone with their eye on investment property in Bulgaria, deals are likely to get better.
Also, a further six months for recovery, during which the country is improving on its infrastructure, will make for a steady and more robust path of recovery.
Now still remains a good time for investors looking for property to buy in Bulgaria. Just be prepared for the final few stony footsteps of this hard journey.