Bulgarian Property Investments - Why Are Prices Still Rising
By K Damian Qualter BA MBA, Fri Dec 9th

Why Bulgarian Residential Property Prices are Still Rising?

The increase in residential Bulgarian property prices in therecent months has brought a disgusting amount of media coverageof the market these days. You can actually read articles abouttheir property investment in almost all daily and weeklynewspapers and magazines. Property investment has become anattractive topic even to government officials, whose publicstatements have caused even more increased hustle aroundresidential property investment prices.

The Bulgarian property investment market is just another free,unregulated market, where the mechanisms of supply and demandcommand the movement of prices up- or down. At the same time,their unique property investment market has some specificcharacteristics all its own, which make it an extremely uniquemarket. Some of these characteristics include: their lack ofsufficient information; a reaction lag when it is compared tothe other sectors of the economy; non-standard product; lack ofa mobility of properties, in addition to, buyers and sellers;and a limited number of transactions that are available in oneperson’s lifetime.

What this means is that the smooth mechanisms of their freemarket economy would be influenced by all of these factors andshould be seriously considered when you are analysing theproperty market for your investment. Any economics student thesedays would tell you that prices rise when either supply shrinksor the demand for something increases. What has happened on theBulgarian property investment market this year in particular isthat both supply and demand have grown significantly with demandoutweighing supply and therefore leading to higher sales prices.

What is more interesting than this is

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what has actually causedthis demand to grow at such a pace in the first place. The sizeof the population, their combined disposable income,availability of mortgage credits and government actions caninfluence demand for residential properties is directlyresponsible for this.

The population of Bulgaria has been decreasing slowly in recentyears, but at the same time the poor economic conditions in thecountryside have forced many Bulgarians to move to the biggercities for in search of cheaper establishments. This has led toan increase in the number of potential buyers of propertyinvestment in Sofia and the bigger cities. Thanks to this theproperty investment market has been its most active in thesemarkets and is expected to continue to be in the short andsemi-long term.

The number of people is not a sufficient reason in itself forthe increased demand for properties; the disposable income ofhouseholds is an extremely important factor as well. The steadyeconomic growth of the Bulgarian economy over the past few yearshas allowed some portions of Bulgarian society to be able toearn and save more money.

Disposable income of Bulgarians is even more enhanced by theavailability of mortgage loans where there wasn’t any before.Although interest rates are still high at 8.5 to 12.5 per cent ayear, many Bulgarians have taken this opportunity to be able toenjoy a new home now rather than wait for the right amount ofmoney to be accumulated in 10 to 15 years. The increasedcompetition between all of the commercial banks will cause evenmore interest rate drops and stimulate the demand forresidential properties in the future.

About the author:Learn the Tips, Tricks & Secrets of Profitable PropertyInvesting by Damian Qualter Managing Director ofBuyProperty4Less - FREE Guide Click Here Now! Bulgarian Off PlanProperty