Sofia’s hope for 2010

Property in Sofia has been on the receiving end of some good news lately, with the manager of Re/Max real estate agents, Shtelyan Kalchev, expressing cautious optimism for 2010.

Many industry experts are expressing a positive market mood given the stability which is being seen in real estate markets across Europe. Rightly though, the optimism is tempered & no one sees nor expects a rapid return to the market peaks of a couple of years ago.

Given the collapse in value of real estate in Bulgaria and the associated economic crisis, many developers and agents have been fallen by the way side. This may be no bad thing, as conditions are forcing companies to become more focused, efficient and professional if they are to survive.

A calm professional approach is what Kalchev says is essential whilst the market recovers slowly, seeing the micro trend as a potential indicator of a better year in 2010.

As the market looks stable with rock bottom prices, now could be the time for buyers looking for investment property in Bulgaria.