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Bulgarian Property & Real Estate News

Bulgarian real estate agents to set new standards

Over the next six months, new European standards, regulating real estate agencies, are to be adopted by all Bulgarian real estate agents, according to Maya Staneva, Director of the Bulgarian Institute for Standards. Staneva spoke during a national conference-discussion covering the current issues in the Bulgarian real estate sector.

The new real estate standards have been worked on for the last three years and they are currently at the final ratification stage in all member countries of the European Union, including Bulgaria.

Bulgaria will be required to comply with the European real estate quality requirements. Staneva mentioned that the new standards would likely lead to the disqualification of certain Bulgaria real estate agents who dod not meet the necessary training and experience.

The Chair of the National Real Estate Association Lachezar Iskrov added that due the global financial crisis some business involved in real estate in Bulgaria could become insolvent, adding that this problem also existed for worker in the sector.

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