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Interestingly, this busy but otherwise fairly typical political schedule harbours a hidden agenda. Heading into
elections, Government would dearly like be seen as party that has carried Bulgaria through to last, irreversible step of her European journey. To be able to claim this achievement, though, they need to …
· Establish date for signing EU accession treaty · Remove land sale restrictions - which is a precondition of EU accession · Complete EU treaty signing process
And because Parliament is dissolved forty days before elections, key date for all of this to be completed is 22nd May which is last possible day of work for MPs during this term.
The impact of this on property prices is likely to enormous. Alongside annual price increases of 25 to 30% that are now more or less embedded in property market - and major upsurge in property values widely forecast for January 2007 - Bulgaria will soon have a new Government with a full political term in which to implement their own and EU’s continuing reforms. She will be a de-facto EU member and every European citizen will be able to buy property in Bulgaria without any restrictions or limitations.
Put another way … we now have a sequence of events mapped out over next six months which, both individually and collectively, will make property purchase in Bulgaria easier, more attractive, less speculative and, ultimately, more profitable. And even most novice student of economics will know that this will bring about an increase in demand and a corresponding rise in prices.
Salespersons are sometimes criticised for using such phrases as: ‘there has never been a better time to buy’ or ‘buy now because this price won’t last’.
This time … they might just be true.
Article written by: AdrianM
