A recent report suggested that prices for property in Bulgaria had now dropped to the same level as it was back in 2007. There are no official statistics for this and the noticeable drop is simply based on listed selling prices between 2006 and 2007 and the fact that sale transactions have fallen drastically towards the end of 2008 and in the first few months of 2009.

Many are seeing this as a sign that the Bulgarian real estate market has completely collapsed and there is little hope of recovery any time soon. However, is this really the case?