New price drops for bulgaria

The prices of new buildings in Bulgaria have dropped down by 15% since the beginning of the year...

According to Teodora Dimitrova, manager of ERA real estate, the drop of 15% is a huge improvement over 2008 prices.

The biggest reduction is on the market of unfinished residence buildings, panel residence buildings, and agricultural lands - between 30% and 40%. The market of luxury realties is still stable, Dimitrova informs.

Compared to twenty other European countries, Bulgarian population's financial debt is one of the smallest amounting to only 12% of the GDP. In some European countries it reaches 50% of the GDP, and in some it even goes beyond 100% of GDP, ERA Europe reported.

Currently Bulgarian banks have granted loans of no more than 60% of the value of the realty, Dimitrova reported. According to her, the present moment is the best time for buying real estate properties because there are a lot of valuable offers.

Source: www.novinite.com