Bulgarian property demand 'may slump'
www.moneynews.co.uk > Housing market > Bulgarian property demand 'may slump'
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Money News |
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Bulgarian property demand 'may slump'
Thu 4th Jan 2007
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Now that both Bulgaria and Romania have become part of the European Union, property prices are expected to rise according to some experts.
As a result, Andy Welland, spokesperson for Propertyshowrooms, said that those who had spent on the Bulgarian property market will struggle to recuperate their initial investment as the re-sale market slides.
Mr Welland remarked: "The one thing that will happen from Bulgaria joining the EU is property prices will go up. In my opinion there will be few people who want to pay those higher prices to buy a property from someone.
"It's all very well earning a profit on paper, but in order to release that profit then you need someone to buy it."
Real estate website Offplanmillionaire has also predicted that impact on property prices in Bulgaria following its Euro entry will not be substantial.
Related News : Housing market |
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