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Anyone considering buying or already owning property in Bulgaria should consider the global fiscal crisis and its effects upon the Bulgarian economy as a whole. House Sales Bulgaria knows how important it is for buyers to be well informed.

The general consensus is that the current global recession began in the last quarter of 2008, and the financial position of most countries and states remains poor for the foreseeable future. In 2008, before economic crisis struck, Bulgaria’s Gross National Income was measured by the World Bank in PPP (purchasing power parity dollars) at 87.5314billion in 2007 which then rose dramatically to 101.0021billion in 2008. 2009’s figures showed a definite effect of the recession, as the GNI steadily declined to 99.9292billion in 2010. This is the first time since 1996 that Bulgarian GNI has not shown growth.

Although these statistics indicate an adverse effect on the Bulgarian economy, it is important to consider the financial position of other countries and states around the world. Once compared to other financial states, it is easy to see that Bulgaria’s economy is in fact still a stable and viable prospect. Outside investment has been a crucial factor in maintaining stability, and the tourism industry along with foreign trends for buying real estate in Bulgaria have contributed significantly.

To verify that Bulgaria has one of the economies most resistant to the global fiscal crisis, ‘Standards and Poors’ (an American company well known for assessing financial stability) awarded Bulgaria a ‘stable’ rating in 2009, which was an upgrade from it’s previous ‘negative’ rating. Bulgaria was the only European country to receive an upgrade. Another respected financial assessor, ‘Moody’s Investors Service’ awarded Bulgaria an upgrade in 2010 from ‘stable’ to ‘positive’. All in all these ratings provide a positive assessment and point towards growth in the Bulgarian economy. Many corporate investors looking to buy property in Bulgaria will consult ‘Moodys’ or ‘Standards and Poors’ before investing.

For any potential foreign investor, finding out about the country you may be looking to buy property in is essential, especially in the current economic climate. Most people start by researching the geography, politics and current affairs, but financial growth and economic stability should be as much of a priority as your own financial security. House Sales Bulgaria  offers advice and help for anyone looking to buy or sell property in Bulgaria.