Foreign property investor interest in Bulgaria property will rise by 40 per cent for 2008, according to the forecasts of Bulgarian real estate consultants.An increased level of proficiency and boosted quality of customer service will guarantee Bulgaria property its ranking among the top three preferred destinations for real estate investment throughout Europe, officials from the Moscow subsidiary of international real estate consultants BG Estates Worldwide declared following the 17th international property exhibition, DomExpo, held in the Russian capital.
Company officials tried to highlight the reasons behind Europe’s preference for Bulgaria property. They discussed Bulgarian real estate prices which, compared to the ones in Russia and Europe, still appear attractive to investors. Also, projects are realized much easier in Bulgaria, noted Alexander Alexandrov, manager in BG Estates Worldwide.
Credit policy is still one of the main obstacles that potential investors face. Banks must improve their products and make them adequate for the current market environment. If they start offering more adaptable and flexible loans, Bulgaria property transactions made by Russian clients will grow by as much as 50 per cent. This is a realistic increase of investment in Bulgarian real estate and could be achieved if the quality of services and entertainments is developed.
Foreign investors interest in Bulgaria property will rise by 40 per cent for 2008, according to the forecasts of BG Estates Worldwide consultants. The envisaged growth rate is based on a trend outlined this year – serious real estate investors with long-term, non-speculative interests have emerged on the Bulgarian real estate market and the tendency is that their numbers will grow.
Apart from Moscow, BG Estates Worldwide has offices in London, Bristol, Dublin, Sofia, and Bourgas. It was awarded first prize for expertise and proactive policy toward Russian clients in the field of real estate at the exhibition.
Source: PropertyWiseBulgaria