Real Estate Property Market To Favor Buyers

It is not very appropriate to make solid forecasts about the price levels of real estate properties in Bulgaria in 2009, real estate agency BulgarianProperties told Profit.Bg.There are many reasons for this and their dynamic development continues. It is still not very clear as to what policy will banks adopt regarding lending, what the condition of the labor market will be and what the sentiment of the population affected by the global crisis will be.All this has a great influence on the real estate market, according to BulgarianProperties.The first months of 2009 are expected to provide clarity on the development of these processes, after which it will become clear as to where the market is heading.Nevertheless, there are few certain things - real estate property prices will hardly go up in 2009. The price will most probably retain their present levels, when it comes to high-quality properties, while the prices of properties with lower quality and location will decline.The customers in turn will become increasingly demanding regarding the quality of the properties.The present market conditions will help sellers more willing to make discounts for serious clients.The new construction will be reduced to minimum, while only a few real estate developers will stay afloat.The market will work in favor of the buyers, while sellers will be more disciplined.This year will definitely be extremely interesting for the real estate market considering the fact that the market conjuncture will change significantly.