This relates not only to the consumers but to the tenants as well. Despite the crisis real estate market in Bulgaria is still the biggest sector and a very active one.
At the beginning of the year 2010 on a real estate market there will be too many unclear questions related to methods of payment and to the cost of lawyer services. In this situation those sellers and real estate agents will have advantage who will manage to adapt to new conditions and offer their clients full service. When such legislative measures are adopted it will increase the prices a bit on the market which lack fresh money.
These factors will cause a weaker consumers activity in the first quarter of 2010.
The majority of sellers expect the market growth in April. The prices for residential property will be the same till June. The first period of price growth on apartments and houses is expected at the beginning of summer but under condition that financial recovery and no unemployment.
However some market players consider that prices will continue to fall till the number of critical real estate mortgages won’t decrease and till the beginning of credit financing and renewal of foreign investments.
In 2009 those who were buying apartments expected bigger discounts and at the very beginning of the year negotiations about apartment purchase dragged on for a couple of months. There was some activity on the market but consumers were still rather cautious and real deals for buying were made after 3 or 4 check-ups.
Real estate management is carried out more professionally now. Office and shop sellers are ready to carry out finishing work at their own expense. They undertake expenses for office shifting, provide transport. The list of extra services for free will be added in 2010, taking into account that new office and sales areas are being built in the context of lower demand.
