Bulgaria Property News

Exhibition “Bulgarian Home”, or “Bolgarsky Dom”

During February 10-11, 2012, in Moscow in the Trade Center “Tishinka” the property exhibition “Bulgarian Home”, or “Bolgarsky Dom”, took place. This event organized by aigroup has been held for 5 years, and to this time it acquired a reputation of one of the most important property exhibitions in its way.

The recent “Bulgarian Home” as usual showed a steady interest of Russian consumers in Bulgarian property. According to the statistics, the exhibition was visited by about 7000 people. The interest of the potential customers, as the exhibitors said, as usual was concentrated on coastal property. Particulary, this feature was noticed by a manager of “KupivBG LTD”: “We came to the exhibition for the first time, and have to say that it lived up to all our expectations.

Concerning demand it is drawn towards the properties situated on the Black Sea coast. However, we’re not disappointed with it because we’ve got the offers on objects throughout the whole country — from Sofia to Burgas and Varna”.

Besides that among the other distinctive features of Russian market the exhibitors mentioned the interest in a Bulgarian property of moderate prices, the demand on rural houses first became apparent in 2011, and an interest in property from the investment point of view, e.g. for leasing purchased house or apartments.

By and large, according to the experts, 2011 had a stabilizing impact on the Bulgarian property market. Prices have almost stopped dropping (this process was usual for 3 years of a financial crisis), and in the last year they decreased just about 5%; the demand for the property in the central regions of Bulgaria increased (the number of deals in selling/buying of particularly this kind of property showed the most growth in 2011); and the general business activity if to judge by the whole number of signed contracts has been increasing steadily since the November, 2011, and in accordance with the preliminary data, in January 2012 the growth of this number total 12%.

One of the most discussing topics during the “Bulgarian Home—2012” was the matter of politics, or, exactly, of joining Bulgaria to the Schengen area which is expected to be on the March 2012. The exhibitors spoke on this subject were almost unanimously: the prices most likely will increase, although it won’t entail any negative tendencies. Angel Radoslavov, a director of the Moscow Office of the Bulgarian Agency “Mirel” said: “The joining of Bulgaria to the Schengen Area will definitely warm up the demand on the market, and even if the developers and agencies maintain the prices on the today’s level, sooner or later the growth of the prices will happen just in accordance to the economic rules”.

The same opinion was given by “Premium Group” and “Bolgaria Bez Granits”, as well as by “Pervaya Linia”, the agency which works with property both in Bulgaria and Latvia, a country which is already a member of the Schengen agreement. A manager of “Best Nedvizhimost” thinks that the joining of Bulgaria to the Schengen won’t provoke any great changes in the property market.

By the way, the statistics say, that the number of the building permits issued in Bulgaria in 2011 dropped a little, which means that the rate of the construction of new objects will decrease soon, and this fact can impact on the future property prices as well. So, according to the general opinion of the market players, 2012 is the very right moment for purchasing of the property in Bulgaria.