Property Market Unlikely to Be Upbeat in 2013

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The reduction of real estate transactions in 2013, and they probably will fall from 2,000 to 3,000 units, will push prices further down. Especially in the not very promising areas where the number of empty housing units is expected to increase. In the most attractive areas of the so-called A group , however, prices will remain stable or if there is movement in either direction, it will be within 2-3 percent. Limited new construction has yet to be seen if is capable to affect the market in case the demand remained at a current or near-current level. Many things depend on future foreign investment in this market – the Russians are the most important strategic resource for the market placement of the reserve of already built but unsold holiday homes. Improved infrastructure in Southern Bulgaria endash the highway Trakia and Struma, will focus a large part of Bulgarians buying holiday houses, towards the section between Plovdiv and Burgas, and Blagoevgrad-Sofia. The decline in housing prices in neighbouring Greece, however, will direct some Bulgarian investment in this zone, experts predict.



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