Export sectors first to report signs of revival

Export-oriented sectors have begun to show the first signs of recovery early this year. This is confirmed both by the statistics of the National Statistical Institute (NSI) and by leading managers in the real estate industry, manufacture of textiles and clothing, spa and wellness services, showed an inquiry of Klassa.

On Friday, the Finance Minister and Deputy PM Simeon Djankov announced in the National Assembly that according to data of the European Commission for November 2009, a growth of Bulgarian exports by 3.3% was registered. The national statistics reported growth in November on an annual basis by 3.76%, while that for non-EU member states increased by 7.89%. For 11-months of the year, however, it appeared that exported goods amounted to BGN 13.67 bn. The latter sum was 18.35 % less than in 2008.
It is notable that sectors first having felt the recession, are also first to mark the surge.

Real estate prices on the rise

The situation in the real estate sector is also an eloquent confirmation on this fact. Kaloyan Bogdanov, marketing manager of Address real estates company explained for Klassa, that at the beginning of this year the active buyers benefited from the lull. As a result, they conducted thorough and serious negotiations to achieve good prices for the properties that they have set their heart on.

"Thus, even during the second week of the year an initial increase in transactions was observed. Over 90% of real estate transactions were concluded at levels about and below the amount of €50,000," he explained. The clients having problems in payment of loans are those actively selling. And if there is an opportunity, they sell larger real estate to buy smaller and to reimburse part of their credit via the difference generated with the transactions.