Balancing Bulgaria’s books

The sliding value of real estate in Bulgaria is cited as a contributing factor to the difficult times ahead for the country, according to a recent report by UniCredit.

UniCredit has been focusing on the economy of Central & Eastern Europe and fears that Bulgaria’s hard times still remain ahead, with rising unemployment and low lending adding further to the country’s lack of production.

Bulgaria does however have its own strong point despite the pessimism. One being the fact that it isn’t tied into the euro as most of its other European neighbours are. Another is the strong conviction and determination that the new administration has in eradicating all governmental corruption whilst instigating new measures.

The experts aren’t expecting market recovery until the end of 2010, although prices are not expected to fall much further in the meantime.

The country fights hard for its corner & buying property in Bulgaria now, for the long term, could well be an investment in a major future market player.