There is a way for Bulgaria to benefit from the real estate crisis. According to some property experts, prices in the country may shed up to 30%.

If the Wall Street panic reaches Bulgaria, the real estate market will be the first to feel the blow. This is why local entrepreneurs need to forget the euphoria from two years ago and to “bring prices back to Earth.”

“I have always said that prices in certain segments are going to fall. Existing homes in Bulgaria's biggest cities will be the first to depreciate,” Orlin Vladikov, a member of a real estate association says for bTV.

“Vacation homes will be second. The decline I am expecting till the end of the year is of some 25-30,”he added.

“There is a good and bad scenario for us,” he pointed out. “We have seen the bad one in other countries before. The good one is only possible in Bulgaria. Our country is already a tax paradise for foreigners. At the same time property prices are falling. If we use the crisis and manage to attract attention with a little advertising, we might actually benefit from it.”

All of us must work everyday to a shifting to more environmentally friendly projects for example.

In the past several months, foreign investors have been fleeing from Bulgaria. With investing in real estate, however, you cannot take the asset with you. So what happens is you sell at a lower price. This is the opportunity. There will be good projects at low prices in Bulgaria, which means if entrepreneurs play their cards well, money may start to pour from Russia and the Arab countries. This is how you benefit from a crisis.

Source: bTV