Property in Bulgaria 'remains solid'

propertyworld.com , 2009-02-17

     People buying property in Bulgaria now have the advantage in any transaction, according to recent research.
     House prices are now determined by the people seeking to purchase the property, with cash transactions particularly popular during the credit crunch, the Sofia Echo reports.
     A recent report revealed that a market which was expected to be in crisis was beginning to free itself from a speculative capital flow, as factors such as bank support mean the price of property in Bulgaria is being corrected.
     "The truth is that changing one's home is something that is often dictated by personal factors in life. Therefore, people will always buy property. All we are parting with now is the hysteria," the report says.
     House prices increased by 22 per cent in 2008, according to the research, indicating the continued popularity of property in Bulgaria.
     Those looking to buy scenic property in Bulgaria may wish to purchase a home in the Balkan Range, which offers views of mountains and forests adding up to an "ideal" location, according to property magazine Quest.

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