Bulgarian Property Expert: Sofia Real Estate Market to Go up in 2010

Properties | October 25, 2009, Sunday // 21:12|  views

There are signs of optimism for Sofia's property market in 2010, according to expert Shteyan Kalchev. File photo

The Sofia property market shows reason for cautious optimism, according to Shtelyan Kalchev, Manager of real estate company RE/MAX Partners.

In an exclusive interview with Novinite.com, Kalchev said he was cautiously optimistic about the real estate market in Sofia.

“Generally the market can be defined as going up, but one of the main reasons is that sellers became more realistic, which brings a meeting-point between demand and supply. In other words, if someone decides that prices need to go up, the market will freeze again”, he stated.

When asked about his opinion of the prospects for 2010 and beyond, he replied: “It’s always risky to forecast a market trend, mainly because it really depends on macro-economical factors. I can give my opinion for a logical trend for 2010, based on the current situation and ongoing processes.

“It is very important that the market should remain calm and stabilized. Real estate agents need to be as professional as possible, to give their best service to the customers and to educate them about any opportunities and threats that this market can offer.

“I expect a healthy 2010, with an improving property market and a lot of work to be done, the way it should be done. I am very far away from thinking that this boom market is coming again – this would be the worst mistake. When I’m saying healthy and improving, I mean stable, with a lot more professionals involved and top quality service for all clients.”

For the full interview with RE/MAX Partners on the Sofia property market READ HERE

For an additional analysis of the British expat market in Veliko Tarnovo READ HERE

For a feature on property pitfalls for Brit expats READ HERE

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Tags: Shtelyan Kalchev, RE/MAX, real estate, Veliko Tarnovo, sofia, property, expat


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