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| 2012 will be new beginning for investments and property market in Bulgaria – Kaloyan Ganev | ||
Trends and property market development during past few years, as well as the relatively stable 2011 make us to believe that 2012 will be stable too and will be a beginning of a new period for property market and property investments in Bulgaria. Relatively stable market, property demand indexes during the past year, detailed analysis and statistics, which we have, together with our expectations for 2012 are the reason for our positive forecast that the next year will be stable and will be the beginning of long-term property prices increase for some of the offered estates. We believe that the crisis left a positive mark on the real estate market, as chaotic and rashly property investment in inappropriate areas and estates, as well as financing of unsuccessful projects already is concluded. The fact mentioned above will contribute for better value in areas with trends for positive development and economic growth as well as it will determine long-term trends in various regions of the country. Clear programs and projects for development and infrastructure’s improvement, started and successfully finished projects and investments, good financial performance and excellent development opportunities give us confidence and makes our country not only one with the lowest prices in Europe but one of the most secure and attractive places for property investment. As for Veliko Tarnovo region we have more than positive attitude. We believe that all mentioned above will affect on building business as well as on offered properties, as there are projects that will to be started in the beginning of 2012. Unlike the all together building till this moment, the new projects are excellent considered, great store is set by smaller buildings, more functional housing, not only looking for maximum living area, but for efficiency, functionality and good quality performance. Customers are increasingly aware of what to ask and we are the mediator between them and investors, trying to analyze the demand and customer’s needs as well as to give to the investors a clear vision of what the customer needs, what are the expectations and demand trends. Having in mind that there are many recently built properties, waiting for new owner’s to get in, we expect that the year will start with slacken pace and at the end of the second and at the beginning of the third quarter the market will start its stable and slow growth, which will be the reason many clients to renew their demand and investment in properties. We also have in mind the fact that on the market there will be many estates for sale thought banks and bailiffs, but their prices will be high and will be impossible rapid reaction for 7 days the amount to be paid in cash – from this point of view we can note that this situation will not have an influence over demand for new and good quality properties. Forecast – at the end of 2012 we expect 5-6% growth for residential properties in the town. As for rural settlements which have potential for development and infrastructure improvement, they will attract more and more people, but this demand will have slower temp, which will depend mostly from investments in a particular settlement. Even more with establishing Veliko Tarnovo as a tourist and cultural center and an excellent tourist destination for Bulgarian and foreign tourists there are more opportunities for development and demand in rural areas. Now is necessary to be found investors in entertainment tourism as well as in development of Gorna Oryahovitsa airport. According to mentioned guidelines of development, we hope and believe that on the commercial properties market there will be improvement in the beginning of second year-half, which will contribute for better situation in offering, buying, renting retail spaces. Many of our clients and partners are ready for growth and expansion of their business, just waiting for positive signs to take an action in that direction. The rental market will keep the same level, as we expect that purchasing small apartments such as “Buy to Let” type in 2012 will bring 7 % annual income, which having in mind the forecasts for slow but stable prices increase, makes the long-term investment in such properties very good. We say "New Beginning" because the property prices keep the same level like in 2006 but there isn’t construction and demand by the kilogram, which makes every investment much more secure. Source: Century Homes |
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| Tuesday, Dec 27, 2011 | ||
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