The downturn in the real estate sector in Bulgaria caused by the global economic crisis has not affected the construction of luxury properties in the country.
This opinion has been expressed by entrepreneurs and experts who participated in the “High Class in Construction” exhibit which took place in Sofia over the weekend.
Experts believe that the economic crisis has led to a greater focus precisely on high-quality properties.
According to the Chief Architect of Sofia, Petar Dikov, Bulgaria has a very good potential for a dynamic market of luxury properties.
The participants in the expo believe that the crisis has hit mostly the low-quality construction projects in the country, and that most investors actually have made mistakes by seeking quick returns on property investments without accounting for good quality.
Author: pk, 1 Dec 2009 07:06:30
Bulgaria's Luxury Properties Construction Unaffected by Crisis
I feel much better now about my R.e investments here NOW that"Chief Architect of Sofia, Petar Dikov" says the market is good...
What a genius he is...he must have ties with Avrora Capital:)
Author: Eron, 1 Dec 2009 14:07:45
Bulgaria's Luxury Properties Construction Unaffected by Crisis
“Experts believe that the economic crisis has led to a greater focus precisely on high-quality properties. According to the Chief Architect of Sofia, Petar Dikov, Bulgaria has a very good potential for a dynamic market of luxury properties."
What’s considered high-quality in BG usually translates to average/ordinary in the developed nations. Once again, the Law of Gravitation does not apply in BG.
Author: FIGMENT, 1 Dec 2009 16:06:10
Bulgaria's Luxury Properties Construction Unaffected by Crisis
pk
There is some very reasonably priced real estate in Dubai now. LOL
Author: fishbrain, 1 Dec 2009 16:22:27
Bulgaria's Luxury Properties Construction Unaffected by Crisis
High quality property?? You mean those awful places at the bottom of Vitosha where there are no roads, there is no sewarage or electricity connected? Hmmm no thanks.... I will take those cheap apts in Dubai the guy above is offering hahahaha
Seriously- who comes out with such crappy statements? There is no solid statistical data or data that can be trusted and yet every week some weird statements are made. The fact is that nothing is getting sold right now... as to what is luxury is the same as to what is "service" in BG.
Author: FIGMENT, 1 Dec 2009 16:32:11
Bulgaria's Luxury Properties Construction Unaffected by Crisis
The prices are luxury prices, the properties are average Bulgarian quality, which is not fit for human habitation.
