The financial crunch of the last few years have hit most countries of the western world, some more than others. In the case of Bulgaria, it has had a minimal effect on the economy. Truth is, that it has had its good years and bad during the last three years and it cannot be said that it was affected at all by an almost global financial meltdown.
The Bulgarian real estate market is one economic area which also does not show any real effect outside of the country. It is dynamic to the point of being almost unpredictable. Whereas the 2009 real estate market was described by one Bulgarian real estate analyst as a “massive outwit” with properties being sold at prices which were either too low, or too high, there has been a sobriety during the first half of 2010, with properties not being sold if it seems that it is priced lower than expected. For some years now, rich Russians have picked up expensive properties in the urban areas, as well as along the Black Sea resort areas. This high-end market has almost disappeared for 2010.
It is still a good market and dynamic.