The International Monetary Fund (IMF) has completed a review of Bulgaria's economy having met with key figures within the Bulgarian authorities in the capital Sofia in early October. The results of the review are encouraging for every area of Bulgaria's economy, including real estate in Bulgaria, reports property website House Sales Bulgaria (http://www.housesalesbulgaria.com/). The IMF predicts that Bulgaria will experience economic growth of between zero and 0.4% in 2010 but that this will improve in 2011.
As in any country, property in Bulgaria is affected by wider market conditions and the health of the country's economic future will impact directly on its real estate market. Those looking to buy property in Bulgaria for personal or investment use may welcome falling house prices in order to purchase at the bottom of the market, they will still be looking for signs for future upturn in the market to protect their property investment. People who want to sell property in Bulgaria will be counting on economic growth to stabilise the real estate market and increase the likelihood of a quick sale at the right price. Therefore anyone involved in real estate in Bulgaria welcomed any positivity to the IMF´s findings, no matter how limited.
Following the review, the IMF team stated that "As the global economy exits its deepest post-war recession, Bulgaria is benefiting from stronger exports and the economy is poised to stage a gradual recovery. In 2011, the recovery should gain traction. Real GDP growth is forecast to rise to 2.0-2.5 per cent (year-on-year) as the recovery broadens to encompass domestic demand. While this is projected to maintain the current account deficit to just above three per cent of GDP, it is more than covered by foreign direct investments. Employment conditions may improve as growth increases."
Find out how the IMF's findings will affect real estate in Bulgaria by checking in with the latest property listings now and over the coming year at http://www.housesalesbulgaria.com/.
About the Author:
Editor's Note: The Worldwide Group and House Sales Bulgaria (http://www.housesalesbulgaria.com/) is represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Please direct all press queries to Louise Byrne. Email: louise@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.
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