Shortage of new apartments in 2014

With about 10% will increase the activity of the real estate market in Bulgaria in 2014.

One of the main reasons for this is that the interest on deposits is expected to fall over the next 12 months, while the drop in the real estate prices to discontinue, which in turn will activate the buyers.

It is expected that many people with money saved up cash, decided to keep them in the bank to rethink its intentions when they see the demotion of this interest rate. The investment in real estate is a bet, and the eventual rise of housing prices in the future will make this step more advantageous.

A decline in housing prices is not expected. If there is one, it will be for certain types of property and with minimum rates.

The shortage of newly built quality apartments will motivate the construction to start building again. There are buildings in the stage of construction, in which are sold around 60%-70% of the apartments. There is interest to purchase even in stage - building permit from established builders.

Next year will witness the construction of many new residential projects in communication areas. These new, high-quality properties will meet in full the expectations of buyers and will further intensify the market.

Last year the average cost of homes in Bulgaria, was around EUR 50 000. The expectations for 2014 are increase to 55 000 - 60 000 EUR.

There will be growth in the purchase of the apartments with an investment objective. Last year their share was 9%, this year the percentage is expected to increase to 15%.