Property prices in Bulgaria could stabilise in 2010

Property prices in Bulgaria are likely to stabilise in the next year, it has been claimed.

According to Tatyana Emilova of real estate consultancy firm Colliers, house prices in the country will fall by a further ten per cent in the first six months of 2010.

The ongoing drop in value in the first half of the year is expected to be succeeded by "stabilisation in the market" in the second half, she told the Bulgarian newspaper Dnevnik Daily.

Experts believe that there will be a rise in demand in the housing market alongside greater flexibility from lenders as a result of the lower prices meaning that investors would be more willing to negotiate.

The news may interest investors looking to pick up a bargain and with Bulgaria falling outside the eurozone individuals can take advantage of the favourable exchange rate.

Overseas investment company Property Venture recently named Bulgaria as one of its top investment choices for the UK buyer in 2010.

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