Deals with properties drop by 35%

Recent publication in dnevnik.bg states that deals with properties in Bulgaria have dropped by 35% during the first half of the year. Knowing the position of the newspaper and its publishers you can easily expand this figure to 50% as the facts for the construction business are not very precise in Eonomedia newpapers and websites. Who wants bad publicity for his advertisers?

Nevertheless, later on it is stated that for the are of Sofia, Varna and Samokov (Borovets) the drop is even 50%, which means that where the real market is (nobody cares about the drop in abandoned villages where nobody is buying) the crisis is hitting the developers.

Main reason for the drop? Lack of credits and financing. As usual.

Another interesting point in the article is the suggestion that prices below 500 Euros per square meter should be considered as a “scam”. Now when many people are trapped with high prices from previous years and mortgages that they can’t afford every offer with normal prices is considered to be a scam…