Entry into Schengen will lead to growth in property prices in Bulgaria

10.06.2011 06:00
Articles about real estate | Entry into Schengen will lead to growth in property prices in Bulgaria Realtors in general positively welcomed the news that MEPs vote supported the entry of Bulgaria into the Schengen zone. Experts believe that the country's accession to the visa-free space will increase the number of transactions in the market and in the long run will raise real estate prices.

Bulgaria's entry into the Schengen zone - is just the tip of the iceberg, behind which lie numerous intergovernmental agreements. While it is not known, the conditions under which the country will join the visa-free space, said "Prian.ru".

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Wait for information about the conditions the inclusion of Bulgaria into the Schengen zone will have until at least July 2011. The interior ministers of countries - EU members on the day after the vote, MEPs decided nevertheless to wait with his verdict before the publication of an annual report on the outcome of the struggle of the authorities of Romania and Bulgaria to the crime.

Nevertheless, the green light from MEPs seem real estate professionals are very good sign. "While the decision on accession of Bulgaria into the Schengen zone have not yet fully accepted - this requires the unanimous consent of all parties to the Schengen agreement. Nevertheless, the fact that the majority of MEPs voted for the accession of the Republic - is a big breakthrough. Six months ago we did not expect such positive results, "- says the CEO of Bulgarian house" Alexander Garmashevsky.

"Undoubtedly, the adoption of Bulgaria into the Schengen zone will be a very good event for the real estate market. Now almost all the buyers are asking when will this happen, because as homeowners want to get a multiple Schengen visa ", - adds the head of the company PROPERTYINTERIOR Georgi Georgiev.

Real estate professionals believe that a multiple Schengen visa, which would give the EU the right to non-residents to travel freely in virtually all of Europe should draw on the Bulgarian market of new buyers. According to Olga Theological now all hope that property buyers in Bulgaria, for example, in Spain, can count on the lightweight procedure for issuing Schengen visas. Nevertheless, the expert stressed that while talking on the documents required the property owner to obtain a visa, it is premature.

"While we can not definitely say whether the applicants more difficult to obtain a Schengen visa, than the national Bulgarian. In the Schengen zone now occur contradictory processes. For example, the French want to close all internal borders against an influx of immigrants. Nevertheless, to toughen the conditions for issuing visas until the speech is not "- adds Alexander Garmashevsky.

Real estate professionals also believe that Bulgaria's accession to the Schengen area will not affect the simplified conditions for granting a residence permit in the country for pensioners. "After all, pensioners - this is not a category of people, which constitutes a danger to the Schengen", - said Alexander Garmashevsky. "The Bulgarian newspapers are now writing that, even after the entry into the Schengen favorable conditions for pensioners will remain" - adds Georgi Georgiev.

But on the value of the property joining the visa-free space should influence, believe realtors. "I think that as soon as the sharp appreciation of the real estate will not, as the market has not fully recovered from the crisis. However, after 3-5 years of property in Bulgaria would cost as much as in other European Union countries "- said the broker company Excel Property Bulgaria, Svetlana Georgieva.

"Logic says that property prices in Bulgaria will grow. Market in the country is experiencing the best of times in the past year, and now the situation is still stable. Of course, on the coast, you can still find an apartment for? 600-700 per square meter, but an adequate price for the new buildings, not located on the beachfront, now - is it? 950-1100 for the "square". If the demand from buyers will increase, then prices, in theory, should go up "- adds Alexander Garmashevsky.


Content tags: Overseas property
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