Michelle Tabakova

Forecast of the Bulgarian property market in 2007

The expectations are that the market will become stable and will be more segmented

The expectations are that the market will become stable and will be more segmented. The property price will smoothly rise and the height will reach 10-15 %. Luxurious estates will most grow in price and the rise will get the top of 15 %. In the first few months we expect not so dynamic market  because the clients will wait to see what the growth will be.

            The offering of residences in big towns will leave behind  the quest because of the great number of new development apartments  offered on the market .The clients’ choice will be directed towards  quality properties of  average class with good location.

            Despite qualified living terrains and luxury estates, interest will be guided towards the business properties. The industrial terrains are attractive for foreign investors and companies that enter the country. Important factor for defining the price in this segment is the present infrastructure, which in most cases is not well developed. Among most searched properties this year will be quality commercial and office areas, which respond to the high requirements of the foreign companies. We expect great part of Bulgarian companies to orient their interest towards the office buildings and they will leave the hired apartments.

            Attractive for the contractors will be places with balneology, which at the moment are left underestimated. Regions with developed SPA tourism like Velingrad, Sandanski and Hisar are at the investors’ focus this year.

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