Off plan properties, in Bulgaria and property developers in Bulgaria

A vicious circle has arisen on the global property market, in Bulgaria and numerous other countries, due to the financial crisis.

The problem concerns off plan properties where the complex is not yet fully completed. There are three elements contributing to this situation.

The developer delays or can no longer complete the project: the buyer is unwilling to complete on the property purchase: the banks have either recalled loans made to the developer or are refusing a mortgage to the buyer.