Despite the challenges caused by the financial crisis, the real estate market in Bulgaria is emerging as a real oasis in the real estate market based on the world scale. This thriving market experiences stability and even grows in times of economic uncertainty. That’s why now is the perfect time to take advantage of the unique opportunities it offers.
- Lower interest rates than others: High inflation has forced many central banks to raise interest rates. The European Central Bank also followed this trend with the aim of reaching inflation to 2%. Bulgaria, through the currency board and due to its high inflation, is also obliged to raise interest rates, but this happens at a significantly lower rate due to the low deficit and the stable financial policy imposed with the aim of entering the Eurozone. It is important to note here that Bulgarian banks are also highly liquid (they have a lot of fiat reserves), which makes them preferentially offer significantly lower interest rates than foreign banks all over the world. All this leads to stably affordable housing loans and does not allow for an adjustment in property prices in the desired locations.
- Temporarily advantageous prices: You don’t need to be a professional investor to compare what is happening in the market of financial assets such as stocks and bonds. The fear of recession devalued many of them sharply at the beginning, but now they have started to recover their original values, and those in Bulgaria only realized gains of between 20% and 30% for 2023. A lot of money in circulation like dollars and euros causing inflation does not allow huge declines. This means that if there are any profitable deals at all, the present moment will be a unique chance to realize them.
- Stability and security: The real estate market in Bulgaria continues to be reliable and secure. Property and property rights legislation provides stability and protection for investors.
- Investment opportunities: Crises often create opportunities. Investing in real estate can be an excellent strategy to diversify your portfolio and achieve good income in the future.
- Economic growth in the future: Despite the temporary difficulties, Bulgaria has a stable economic foundation and a future brought about by the future entry into the Euro Zone and Schengen. This makes properties in the country attractive for future investments.
In other words, the real estate market in Bulgaria during the financial crisis offers excellent opportunities for investors and buyers. Do not hesitate to get involved in this successful market and take advantage of all the advantages it provides.
Bulgaria the oasis of real estate desert