What’s Happening?
Hello again,
There continues to be a lot of discussion about the influence of the world financial crisis and how it’s going to affect Bulgaria and the real estate market here. The problem is, it’s all discussion – NOBODY KNOWS what’s going to happen. We believe that the influence on the real estate market in Bulgaria will not be as catastrophic as in, for example, the Baltic countries (Latvia, Lithuania, Estonia), since the continuing purchase interest by the Russians and people from other eastern countries will tend to soften the blow. In October, we met some Russian families who were shopping for, and eventually bought(!) apartments in Sunny Beach. In addition, as long as they are able to retain their occupations (which is a critical factor), the ex-pat Bulgarians will also continue to invest in private residential housing, and this will provide potential bargains for them. However, the vacation apartments in large projects will likely continue to suffer as the non-Bulgarian owners try to recover their investments.
There are new clippings on the website, as usual. We also have a new RSS feed from Novinite, the Sofia News Agency (at the bottom of the right side bar) here on the blog, that was custom supplied to us by Novinite. Thank you!
That’s about all for now,
Craig
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