Thu11152018

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Back You are here: Home Property Buying, Selling, Renting To Buy or Not to Buy

To Buy or Not to Buy

Is now a good time to buy Bulgarian property? This seems to be the question on everybody's lips. Are buyers holding off with the global credit crunch or are the more savvy investors buying now whilst there are good deals on offer.

Quest Bulgaria takes a look at the conflicting messages coming out of the real estate sector.

The truth is that the marketplace is much more subtle than direct boom to total bust. Some markets are doing well, others not so.

 

But to imply there is a shutdown of buyers of Bulgarian property is not strictly true. The market is slowing but has not at all halted.

The slowdown in the Bulgarian property market is actually a good thing. Those property markets which show double digit returns for several years are inevitably going to experience a slowdown at some time. This allows the market then to become sustainable and we see a retreat of the big profiteers.

The market may seem negative right now but the outlook is not. Whilst there is a decline in speculative investment now, this will have long term gains for the property marketplace.

The current supply of real estate in Bulgaria is higher than demand in some parts of the market. The luxury end of the market where demand is higher than supply, price growth should stay high at around 15% this year. Similarly, at the bottom end of the price range, demand remains high. Indeed, the cheap properties in Bulgaria will allow the country to we"ather the storm better than other countries such as Spain.

It is in the middle price range where the difficulties are occurring, and this is the part of the market which is being most affected by owners' financial economics in their own country.

With the effects of the credit crunch being felt at home there are many Brits selling their Bulgarian property.

Life's little luxuries are usually the first to go.

This influx of property onto the market all at once, clearly keeps a lid on prices.

As a result there are many properties on the market at extremely good value.

Many of the owners bought at the height of the market and unfortunately are now having to sell at a time when many others are doing the same thing. This presents an excellent investment market. There will inevitably be some very good buying opportunities to come up.

Perhaps it's a good time for the smart buyer do pick up these bargains from the panic sellers?

It certainly appears the time for intelligent investors to move in.

Look for bargains amongst quality properties in good locations, which will be able to fetch good rental incomes and appreciate strongly.

So whether you believe that the Bulgarian property market is still going up or whether you believe that it's gone down, it's the right time to buck the trend and buy a bargain!