The Beginning of the End?

Hi there!

It appears that the beginning of the end is here – the end of what? Come on! The “disaster,” what else. At least for the Bulgarian real estate market. Now you have to ask “what makes you think that?” And I have an answer for you – it’s not just wishful thinking, either.

Housing sales increased in both March and April according to experts at the National Real Property Association as reported on Novinite.com (http://www.novinite.com/view_news.php?id=104056)
In the same article, it’s reported that Bulgarians have around EUR 2-3 thousand millions (billions for US readers) in savings, some of which will likely go toward real estate as soon as the prices start up again.
In another article from the London Times Online (http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article6379298.ece), the British Pound Sterling is starting an admttedly shakey recovery against the Euro. Also, the Brits are discovering that some European real estate is discouted even more than their own. And even if the Brits have been scared away from Bulgaria by the nasty stories we’ve all read, they will push other nationalities out of wherever it is they want to go, and into the waiting arms of… Bulgaria! But I also believe that, when the market is right, the Brits will be back to join their compatriots already in Bulgaria.
In addition, my sources in the USA tell me that it appears that the sales slump there has starting to bottom out. This will not affect Bulgaria directly, but will start to put pressure (albeit VERY little, right now) on the world real estate market in general. Also, to help add a little emphasis there, the commercial market (everything from factories to skyscraper office buildings to strip shopping centers and mini-motels) never suffered the big hurt from the mortgage problems, “only” from the general economic depression.

So there’s our next real estate buying push, in the making. The questions are who? And when?!

Ciao for now,

Craig
for
Bulgaria Realtor

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Tags: Beginning Of The End, Billions, British Pound Sterling, British Sterling, Brits, Bulgaria, Bulgaria Realtor, Bulgarians, Compatriots, Craig, Craig Hesser, Disaster, Economic Depression, Elena, Eur 2, Euro, European Real Estate, Factories, Good 2004 Ltd, Housing Sales, Jimmy Craig, Jimmy Craig Websites, London Times, Mortgage Problems, Nationalities, News Php, Office Buildings, Real Estate Market, Shopping Centers, Skyscraper, Style Property, View News, Wishful Thinking

This entry was posted on Sunday, June 7th, 2009 at 22:36 and is filed under Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.