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Nov 25, 2024 22:54
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The end of one relatively stable year is coming. Year which justified our expectations and prognoses as we managed to increase the number of our clients and partners as well as to strengthen the current and to win new positions on the property market in Veliko Tarnovo and the region.We define the property market in two separate nuances. Our expectations for first 6 months of the year came up, as the year started gingerly, with small decrease of the prices and demand, but at the end of first quarter (Q1) the market stabilized and demand for finished and good quality properties came up to our expectations. We are basically impressed by the fact that Russian citizens buy more for permanent residence but not for holiday home. Market stability was indicated also from bank promotions and products for reducing the interest rates of mortgage loans, which further stimulated segment of buyers who purchase their first home, mainly young, working people between 28 and 36 years. There was demand mostly for small one or two bedroom apartments on lower prices. Bigger interest existed for finished apartments, which are ready for use. The prices of the deals were between 320-350 ? per sq.m for properties ready for use, as the price depend on the area and its infrastructure as well as from the quality of building. The traditionally strong demand in the beginning of second half-year (H2) and summer holidays didn’t come up to our expectations for increase of property buyers’number as it was the same like the last year. The reason for this is that most of the Bulgarians who live abroad were careful because of the unstable economy in the counties where they work. As for the market of holiday properties – it changed for the better because of the fact that in some of the top investment destinations like Greece, Egypt, Tunisia, Morocco there were many strikes of economic and political matter which makes many foreign clients to choose again Bulgaria for second or holiday home. The number of received enquiries not only stay the same, but even increased during the last quarter especially for properties in and near the town. 2011 will be remembered as another year during which natural screening of real estate agencies and building companies continued. Survived those building companies which remain flexible and succeed to escape from the old stereotype, as they managed to offer new attractive payment schemes and reasonable prices for completion of the residential buildings. As for the sphere of real estate business the clients now understand even better the meaning of our service, appreciate and look for the professional service that we offer and since 7 years do our best for make it better and better. More than 80% of the clients who decide to work with real estate agency choose the experience, excellent service and company reputation instead of service without guarantee, lapse of clear goals which many estate companies offered in 2006 aiming easy money. Source: Century Homes |
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| Monday, Dec 19, 2011 | ||
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