Bulgaria: Sales of "Green" Properties are Declining
Construction workers massively stop the sales of properties "on the green".
Buying a property "on the green" implies investing in real estate that, at the time of purchase, is still unrealized. This causes the worry and caution of many buyers, who often decide to bet on the safer alternative. However, the idea of acquiring an apartment before it is built continues to arouse interest among customers planning to invest in their own home. The reasons are both from the more affordable prices against the background of the general market situation, and from the advantage for the client, with whose personal opinion and desire the construction of the building can be taken into account.
Due to the increase in the price of construction materials, more and more entrepreneurs are abandoning deals before the buildings are completed. Brokers warn that this could lead to a shortage of properties and further growth in house prices.
Any increase in the prices of raw materials and resources is quickly reflected in the price of housing due to inflation. New construction has become more expensive by between 20 and 50%, show the accounts of the industry. Thus, it becomes more and more difficult for entrepreneurs to predict the final price of a building and they massively stop "green" sales.
Prices in all major cities are increasing - as in Plovdiv, Sofia and Burgas, the growth for a year is about 20%.
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