ABOUT BULGARIA: Economy

‘The steady economic growth of the Bulgarian economy over the past few years has allowed some portions of Bulgarian society to be able to earn and save more money. In addition, the positive prospects of the economy have encouraged Bulgarians to plan their long-term investments in homes. People are now starting to have positive expectations and perceive the economy as moving steadily in the right direction. .Should the economy continue to grow in the future the demand for residential real estate will continue to increase.

The expected accession to the EU and NATO have both affected positively the development of the Bulgarian real estate market, creating positive expectations and sense of security both in Bulgarians and foreign investors. Again, these positive expectations have created additional demand for real estate properties.’

Tanya Kosseva - Boshova
Regional Operations Director, Southeast Europe
COLLIERS International

Bulgaria is one of the few countries not to be badly afffestewd by the credit crunch, possibly because no-one thought there was much profit in the fledgling banking system there. Private incomes have increased over the past few years but are still very low by EU standards and likely to remain so for several years. House prices rose rapidly 2006-2008 but have now stabilised at 2007 levels. The COLLIERS expectations have been fulfilled with the ongoing stability of the economy and the political process.

Bulgaria Key Facts and Figures (BBC News)