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how covid-19 transformed the bulgarian real estate market: strategies and realities of buying

The COVID-19 Pandemic and its Impact on the Real Estate Market in Bulgaria

The COVID-19 pandemic has not only changed the way we live and work, but has also had a significant impact on the real estate market in Bulgaria. Significant changes in buyer preferences have not gone unnoticed and have impacted various aspects of supply and demand.

Orientation towards Completed Housing

One of the key aspects of the changed preferences of buyers is their shift towards homes that are in an advanced stage of construction or already completed with Act 16. Construction of new properties has been severely affected by the pandemic, with buyers preferring to avoid the risks and uncertainty associated with lengthy construction projects that have been delayed or halted.

Search for Stability and Safety

In addition to the shift towards completed homes, buyers are also looking for properties that can provide stability and safety. The pandemic has spurred demand for homes that are ready to occupy, as this provides buyers with the opportunity to avoid the potential risks and delays associated with new construction.

Investing in Property as Inflation Protection

With the growing volatility of the economy, many have begun to look at real estate investments as a way to protect their savings from inflation and economic uncertainty. Selecting stable assets, such as real estate, has proven to be a preferred way to preserve or increase the value of investments in times of uncertainty.

Impact on Rental Housing

With the uncertain economic environment, many who previously preferred to rent a home found themselves in a situation where they were looking for purchase options. The increased stress and uncertainty associated with lease agreements, as well as the potential risks of eviction or rent increases, have driven more people towards speculation and stability solutions in the real estate market.

Economic and Social Factors

The economic and social factors that changed during the pandemic had a profound impact on buyer preferences. The new conditions that have affected the way we live and work have prompted a demand for homes with larger areas or with additional facilities that allow better adaptation to changing realities.

Conclusion of Part One

With changes in real estate buyer preferences in the wake of the COVID-19 pandemic, real estate decisions require greater attention and analysis. Follow the second part of this article to learn about more elements that are shaping the new face of the real estate market in Bulgaria.

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Consulting real estate experts has become a practice that more and more buyers are implementing before making a decision. Estate agents, solicitors and financial advisers play an important role in helping their clients make informed and well thought out decisions.

Tips for Real Estate Buyers During a Pandemic

Choose Finished Homes

As mentioned in the first part, the preference for completed housing over new construction is key to avoiding risks and maintaining stability. If you are in the process of searching for a home during the pandemic, pay special attention to completed or advanced projects.

Look for Stability and Safety

The stability and safety of the property you choose are critical in the current context. Don't hesitate to ask your agent questions about the safety of the building, the environment and the possibilities for adaptation to future situations.

Investments in Property

All finance experts agree: real estate investments are stable and preferred in times of turbulence. Explore the various investment options and consult with your financial advisor to build a portfolio that reflects your goals.

Evaluating Economic and Social Factors

When evaluating property offers during a pandemic, consider the economic and social factors that are changing market conditions entirely. Consider what your needs will be in the future and how an estate agent can help you find the right property.

Consult Experts

Don't feel lost in the sea of information and opportunities. Consulting experts is the key to a successful property purchase. Take the time to meet with various professionals and get a complete picture of the market before making a final decision.

Finishing the Article

By examining the changes in buyer preferences and the tips provided for a successful real estate purchase during a pandemic, we hope you are better prepared to make decisions. Stability, safety and investment opportunities in real estate are key factors to consider for a successful purchase.

Want to keep up with the latest real estate news in Bulgaria and the Burgas region? Subscribe to our Telegram channel: Telegram channel Realina
Be informed about the movements of the property market in 2025 ? Subscribe to our Telegram channel

realina.com
info

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