An analysis of Raiffeisen Estates EOOD, based on the official research of the National statistics institute (NSI) among real estate companies in Bulgaria concludes that the number of real deals on the real estate market registered a cut of 42% for the entire country and 58% cumulatively for Sofia for the first six months of 2009, compared to the same period of last year.

Buyers in all sectors are waiting, and the investors that favour risks and rely on long-term benefits for their fortunes are the only ones active on the market.

Buyers that have enough finances and for whom the purchase of a real estate is a necessity are somewhat active, but very far from the levels of the first half of 2008.

Because of the low activity of buyers, the number of deals is comparable to the levels of 2005, states the analysis. The buyers of real estates expect even lower prices in the future.

With the exception of the planned expansion of the large chain stores, there hasn’t been a singe investment purchase or sale of a terrain for a large project since the beginning of 2009, note Raiffeisen Estates.

The time for choice and negotiation until the conveyancing completion of the deal has tripled from an average of 20 days to 60 days. There also hasn’t been a deal without a significant lowering of the price.

An analysis of Raiffeisen Estates EOOD, based on the official research of the National statistics institute (NSI) among real estate companies concludes that the number of real deals on the estate market registered a cut of 42% for the entire country and 58% cumulatively for Sofia for the first six months of 2009, compared to the same period of last year.

Buyers in all sectors are waiting, and the investors that favour risks and rely on long-term benefits for their fortunes are the only ones active on the market.

Buyers that have enough finances and for whom the purchase of an estate is a necessity are somewhat active, but very far from the levels of the first half of 2008.

Because of the low activity of buyers, the number of deals is comparable to the levels of 2005, states the analysis. The buyers of real estates expect even lower prices in the future.

With the exception of the planned expansion of the large chain stores, there hasn’t been a singe investment purchase or sale of a terrain for a large project since the beginning of 2009, note Raiffeisen Estates.

The time for choice and negotiation until the conveyancing completion of the deal has tripled from an average of 20 days to 60 days. There also hasn’t been a deal without a significant lowering of the price.