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News from Bulgaria
Bulgarian Real Estate Market Shivers in Floods Aftermath
Business: 8 August 2005, Monday.
The real estate market in the areas worst hit by floods has seen a considerable shatter.
According to realtors as quoted by Investor.bg online edition, such natural disasters influence the local market only in the short term.
In view with the damaged infrastructure and risks of forthcoming floods, prices of land and property there will keep on decreasing, experts said.
Yet the future of the real estate market in disaster-hit areas is dependant on the state policy to be adopted for recovery of the infrastructure. Calamities of the kind may also have a positive impact, so far as the renovated infrastructure network will attract foreign investors, real estate agents commented.
Meanwhile, they forecast that just few of the flood-suffering people would make a decision to purchase property in the capital city, despite the calamity deprived them of homes.
Business: 8 August 2005, Monday.
The real estate market in the areas worst hit by floods has seen a considerable shatter.
According to realtors as quoted by Investor.bg online edition, such natural disasters influence the local market only in the short term.
In view with the damaged infrastructure and risks of forthcoming floods, prices of land and property there will keep on decreasing, experts said.
Yet the future of the real estate market in disaster-hit areas is dependant on the state policy to be adopted for recovery of the infrastructure. Calamities of the kind may also have a positive impact, so far as the renovated infrastructure network will attract foreign investors, real estate agents commented.
Meanwhile, they forecast that just few of the flood-suffering people would make a decision to purchase property in the capital city, despite the calamity deprived them of homes.
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