Bulgarias Property Market Resistant to the Market Slump?

By: John Adamm

Interest in Bulgaria's residential and commercial property is growing despite the global credit crunch

Numerous concerns have been recently raised about the future of Bulgaria's property sector as interest rates face an increase and the global economic instability threatens the market. Nevertheless, the country's real estate investment sector is booming, and firms and individuals are actively seeking purchase opportunities. Does it mean that the sector is somewhat strangely resistant to the widespread market slump?

Not exactly. Demand is rising due to an overall change in the approach of most construction and real estate investment companies. Outstanding quality and long-term vision are now considered essential for the success of two main types of property - commercial buildings and closed-type residential complexes.

Commercial buildings are increasing as more and more companies enter and establish themselves in Bulgaria, and local business grows and begins to need space and decent appearance. Bulgaria being a quickly developing market, firms realize the importance of investing in property that will provide them favorable long-term benefits. A good example is Business park Sofia, South-eastern Europe's biggest office and business complex, which has quickly turned into the centre of the city's business life.

Closed-type residential complexes first appeared several years ago, but the concept behind them has considerably changed since then. In order to attract potential buyers, a complex must most of all be able to offer excellent quality and long-term reliability. Location is an essential factor, and so are transport connections. Last but not least, a residential complex has to be able to offer people everything they might possibly need for their daily life and pastime activities and to meet their lifestyle requirements.

One ambitious project that aims to do all this and set a brilliant example on Sofia's real estate market is City of Fountains, which is currently being developed by the real estate investment company Karrat Group Ltd. The complex has been designed to cater for the needs and requirements of successful professionals and young families - today's typical property buyers.

The complex is conveniently located in Sofia's Mladost 4 Residential Area, only 400m away from Business Park Sofia, and has good transport connections to the city centre and other parts of the city by car, bus, and metro.

City of Fountains boasts an impressive range of amenities, including a big fitness and spa center, a swimming pool, sports facilities, an on-site kindergarten, a shopping centre, and a supermarket among others.

The complex has outstanding quality and implementation. Karrat Group Ltd. Has partnered with some of Bulgaria's and Europe's best construction, design, and investment experts to ensure that the final result will really achieve the project's initial aims.

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