Bulgarian Property Slowdown

Bulgarian Property Slowdown

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A two sentence mention about Bulgaria in last week’s Economist’s sent tremors down the Bulgarian property industry. It was in a large sense a reality check for many still illusive about the over-supply situation lurking the Bulgarian real estate industry. romania-bulgaria-eu_1.jpgHere is what the Economist had to say:

Despite the EU’s worries about corruption and organised crime in its newest (and poorest) members, Romania and Bulgaria, their economies have been growing fast at around 7-8% a year. They are now leading candidates for a hard landing. A property bubble in Bulgaria seems to be on the verge of bursting, though this has still to filter through to the rest of the economy.

The general consensus of the article is the inevitable slowdown in Eastern European economies after a decade of exceptional growth.

Photo Credits: cfarivar [Flickr]