Bulgaria property market shows signs of bottoming

Reports are circulating of a Bulgaria property market bottoming out, after price falls that started at the beginning of the year slowed in the second quarter.

In our opinion, it is highly likely that Bulgarian property prices will endure a period of stability, and possibly even growth in the near term. This is because demand is starting to rise again for overseas property, and markets, like Bulgaria are proving to be among the favourites because they offer cheap property that has fallen further in price due to the international downturn.

Of course, Bulgaria still faces problems of over-supply in the most popular locations, i.e. Bansko. But in this, the credit crunch has actually benefited Bulgaria, because it has given birth to a new type of property investor, the type that does their own research and finds the best locations, rather than just following the herding masses to the most popular areas.

For this reason, people aren't just saying, ah Bulgaria isn't good because of the over-supply, they are saying: yes Bansko does look a little crowded with similar properties, and that is pushing down prices, but let's look around and see if we can find the next Bansko and make a killing as it becomes popular, or looking for a place that may never be "popular" but where stable demand will give them stable rental returns and impressive growth over the long-term.

In that respect, the Bulgarian property market could end up doing better during its recovery than it did before the fall.

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Property Abroad.com top 10 overseas property destinations for may 2009

Overseas property portal Property Abroad has revealed the top ten most popular countries for May, and though many of the results may surprise many people, one explanation accounts for them all according to Julie Liddle the portal's emerging trends analyst.

The fact that Spain and America remained in first and second position will come as a surprise to very few people.

Greece and France taking third and fourth positions is a big shock however, especially given that they were in eighth and ninth positions respectively last month. This is a sign that the lifestyle buyers, who have been waiting to see how far prices will fall, are coming back into the market, according to Julie Liddle.

"France taking fourth place from Portugal, and Greece taking third position from Turkey, is a sign that the pent-up demand that myself and many analysts believed existed for the higher end overseas properties in established markets was real, and is starting to be released now as the Pound strengthens against the Euro," she said.

Another semi surprise: Cyprus climbed two places to steal fifth position, which was held by Italy last month. This is also because the lifestyle buyers, who have been waiting for a stronger Pound, are coming back into the market, according to Liddle.

"Cyprus property again, was mainly being bought by lifestyle buyers, and its rising popularity now further enhances my belief that the Lifestyle buyers who were hanging back waiting for the Pound to strengthen, and see how far Eurozone properties were going to fall in value, are now coming back out with a vengeance," Julie said.
Turkey fell back to sixth from fourth last month, Italy seventh from fifth last month, Portugal dropped back an incredible five places to be eighth most popular in May, and Egypt gained one place to take ninth position in May.

The final shock came in Canada re-entering the Chart in 10th spot. Canada hasn't been in the top 10 since the first quarter of 2008. Julie put forward a possible reason for Canada re-entering the chart.

"This is another sign that the pent-up demand is being released. Canada property prices were falling, and there have currently been reports that the market is close to bottom. Those waiting to see how far prices would fall, are now getting in and seeing what kind of bargains they can get," she said.

The full results of the top 10 for May are as follows:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

Compared to Last Month's:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

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Emerging markets 'could be lucrative'

Second home buyers who invest in emerging markets could potentially collect high returns, industry experts have stated.According to analysts at A Place in the Sun Live, buying a property in less-established foreign markets could be more lucrative than investing at home.

The organisation stated that less-established destinations in particular, such as countries in eastern Europe, are among the best options.This, it said, is because the region is experiencing rapid economic growth, as are other non-eurozone nations including Turkey.A Place in the Sun Live remarked: "Buying abroad is still a good investment and can make you a profit, you just need to know where to look."

The group added that countries outside Europe, such as Brazil and the United Arab Emirates, may also offer high returns.According to figures by Savills and Holiday-Rentals, people from the UK now have an overseas property portfolio worth about £58 billion.

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Overseas Buyers Consider Germany

Overseas property buyers have been encouraged to consider buying a residence in Germany.

According to NuBricks.com, the housing market has been relatively unaffected by the global credit crunch, as it has largely impacting on its manufacturing and export industries.

This was said to be partly because Germany is one of the most "credit-wary" countries in Europe, a trait which has cushioned it from the problems in the worldwide economy.

NuBricks.com added the nation could be particularly good for overseas property buyers because it offers a strong rental market.

Chintan Mahida, spokesperson for the website: "58 per cent of all its households rent.

"A lower demand for property buying and a solid rental base is what makes the German property market a safer bet over a speculative, emerging market."

She added that people who invest in the German market are likely to experience slow and steady growth.

Germany: - Property Abroad - for your overseas mortgages, buyers guides and the latest news on buying property in Germany

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