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Property analysts in one of Bulgaria's most respected newspapers The Sofia Echo are bullish about real estate in Bulgaria in 2011, reports House Sales Bulgaria (http://www.housesalesbulgaria.com/). The real estate overview which was published in January 2011 explains that the overpricing of property in Bulgaria seen in 2009 was followed by the crisis which was at its worst in 2010, but that this year will see a re-balance and the market "returning to normal".

The report states that real estate agents in Bulgaria have witnessed a "progressive takeoff in activity" of transactions of property in Bulgaria created by global demand for Bulgarian property. What it refers to as the "remains of the crisis" is in fact helping to grease the wheels of the property market (or as the article puts it a "pseudo-balance"). This is because some people are still being forced to sell property in Bulgaria at reduced prices because of personal financial reasons and this is being met by "sustained demand" from potential purchasers of property in Bulgaria. According to the piece, "this creates a lot of opportunities to be seized".

The Sofia Echo piece does warn of the perils of overpricing, however, urging those wishing to sell property in Bulgaria to keep prices realistic given the recent economic turmoil. Realistically priced property (which often involves the vendor dropping their initial asking price) is arguably the most important factor in this current market when it comes to securing a successful transaction. The author states that they "see a gap between the average price offered and the real underlying value of the property. The overpricing can reach 20 to 25 per cent, even more in some cases in areas like Lozenets, for example."

Early indications of property figures from the country's capital Sofia seem to be backing up the bullish view of real estate in Bulgaria in 2011. The number of transactions on Sofia's housing market in January 2011 was double that of January 2010. This news is considered a good sign for the real estate market as a whole, because the trend, according to the newspaper, is indicative of Sofia's entire property market and even of the county's property market overall.

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