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The real estate sector in Bulgaria is turning into a nightmare, a comment in The Independent states.
Until recently Bulgaria was seen as the place for holiday property buyers. Currently investors are advised to stay away from the country. The number of concluded deals in Bulgaria decreased 35 percent in comparison to figures for the first half of 2009.
Major cities, as well as resorts are experiencing serious property market slowdown in comparison to 2008 figures.
Stuart Low, director of Assetz company advised Britons to avoid Bulgaria. “There are so much good places, more pleasant and even cheaper?! Real estate prices in Europe fall, so the opportunity to buy home has never been good.”
The European property market is showing no signs of crisis recovery, the report stated. The Netherlands, Denmarks, Slovenia and Slovakia experienced a 50 percent decrease in property prices during the second quarter of 2009.
France and Spain have once again turned into favorite destinations for the British buyers. Buyers are now investing in places that they have already explored and trust. Risky options like Bulgaria, Turkey and Dubai are currently turned down.
Until recently Bulgaria was seen as the place for holiday property buyers. Currently investors are advised to stay away from the country. The number of concluded deals in Bulgaria decreased 35 percent in comparison to figures for the first half of 2009.
Major cities, as well as resorts are experiencing serious property market slowdown in comparison to 2008 figures.
Stuart Low, director of Assetz company advised Britons to avoid Bulgaria. “There are so much good places, more pleasant and even cheaper?! Real estate prices in Europe fall, so the opportunity to buy home has never been good.”
The European property market is showing no signs of crisis recovery, the report stated. The Netherlands, Denmarks, Slovenia and Slovakia experienced a 50 percent decrease in property prices during the second quarter of 2009.
France and Spain have once again turned into favorite destinations for the British buyers. Buyers are now investing in places that they have already explored and trust. Risky options like Bulgaria, Turkey and Dubai are currently turned down.
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