Real estate buyers to be more active in 2012

Buyers are expected to be more active on the housing market in 2012, leading experts in real estate properties expressed their hope in front of Klassa daily. Although the situation is quite unclear and depends on the debt crisis and the future of Europe, those with free money in cash will dictate the conditions in Bulgaria. Transactions will be made chiefly by people who have money at their disposal and have been waiting to see how the economic situation will change, commented experts from Arco Real Estate.

The more negative the expectations for the safety of money, the more active some of the buyers will become, commented representatives of Address Real Estate agency. The increasing concerns about inflation or a collapse of some currencies boost the desire to use the money available. There are buyers on the market who are not looking for a home but for a second real estate to invest their money in and raise their standard as well, the company said.

According to experts, no significant changes are expected next year with regard to price levels. “In 2012, real estate prices may well continue to be in a kind of weightlessness due to the shrinkage in demand and the negative economic expectations of a slow but persistent price decline on the housing market,” said Polina Stoykova, COO of Bulgarian Properties. “On the other hand, the market has already reached certain equilibrium levels in the various price segments at which transactions are effected and these levels might remain relatively stable, whereas offer prices will be adjusted so as to approximate the prices of deals concluded,” she explained.

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