Bulgarian real estate prices down by 12% in 2009
22 May 2009
Bulgarian real estate prices are expected to fall by 12% in 2009, mainly due to foreign investors’ withdrawal or restricted financing, said global real estate consultancy Jones Land LaSalle in its report.
Also, Jones Land LaSalle sees entrepreneurs going through a wait-and-see period before unfreezing their projects.
The report noted that a complete recovery in the real estate market was expected after 2011, provided that there was a local economic rebound.
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