Research and Markets is the world’s largest market research resource and in its recently published ‘Bulgaria Real Estate Report Q4 2011’ the firm highlights key opportunities for investors in property in Bulgaria. It states that “This may be the time to enter the Bulgarian property market if investors have time to wait out the recovery”, reports property portal and real estate experts House Sales Bulgaria (http://www.housesalesbulgaria.com/).
In Research and Markets’ ‘Bulgaria Real Estate Report Q4 2011’, the report cites Colliers International’s findings that “a real opportunity for developers lies in the under-served mid- and high-end residential marketplace, where supply is being taken up faster than new projects are coming online.” Find mid- and high-end residential property in Bulgaria and be in a position to hold the investment property in the short- to medium-term (rather than taking a ‘flipping’ property investment strategy, a strategy increasingly risky in the current global economic market) and you could stand to profit considerably in the medium- to long-term.
The report states that prices of real estate in Bulgaria are extremely low and that “no new large-scale projects were completed in 2010 in these [mid- and high-end] residential pipelines and, as developments take up to three years to construct, available supply is becoming scarcer, causing prices to rise.” The advice from Research and Markets’ is clear: “This may be the time to enter the Bulgarian property market if investors have time to wait out the recovery. Prices are extremely low but the new supply pipeline has been decimated and as the recovery takes hold, there must come a time when vacancy levels will drop, opening up the market to new development opportunities.”
Bulgaria’s construction industry is suffering from a lack of new pipeline projects. In May 2011, the National Statistical Institute found that construction production in the country declined by 16.6% compared with May 2010, however that was a drop of just 0.1% from the previous month, which Research and Markets believes could be an indication that “a bottom level has been reached”. Indeed, the report is positive about the market in general: “In spite of the rather gradual recovery in the economy, the overall business environment for Bulgaria’s real estate sector has improved”.
A new influx of investors in real estate in Bulgaria will spell good news for those looking to sell property in Bulgaria, particularly owners of the mid- and high-end residential property the Research and Markets ‘Bulgaria Real Estate Report Q4 2011’ highlights. Whether you’re looking to buy or sell property in Bulgaria, go to one of the leading online resources for real estate in the country: http://www.housesalesbulgaria.com/.
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