The financial turmoil has affected the Bulgarian property market positively in protecting it from saturation and even a bubble, experts and consultants have said.The crisis has impacted both housing and business projects and driven scores of investors out of Bulgarias densely overbuilt mountain and seaside resorts.
The meltdown of financial markets worldwide is reaching morbid proportions and real estate investors are facing a race against time to avoid being embroiled in the collapse. Realtors are eager to sell every large site, office or trade facility that they have available. The current trend is not to cry wolf and raise general alarm, but sell as fast as possible every major project, brokers have told Bulgarianlanguage Standart daily on October 2 2008.The goal is to repay the money as quickly as possible, in cash, as it is unclear yet which way the Bulgarian real estate market will swing. However, the spectre of financial disaster in US real estate market is making local investors and developers nervous and impatient, and they are looking to offload their investments immediately.