View Full Version : Total Progressive Collapse of House Prices in Bulgaria

06-03-09, 10:36 PM
House prices have fallen sharply in Bulgaria, many apartments are empty.

Banks refuse loans, people don't buy, construction is halted.

Very bad situation, esp in Sofia and in the seaside resorts on the Black Sea where demand was the greatest.

In 2008 the price was 1,200 euro for a square metre, now its 500.

Experts say they are gonna plummet further.

How is this possible? In less than an year?

Hows the situation in your country/area? :sm (46):
All this makes me sick...and people keep losing their jobs here too.

Wonder where this is gonna lead us.

22-06-09, 08:34 AM
I can say something about china. In china, some big cities such as Beijing, Shanghai, Shenzhen, during 2008, the price of house is decreasing very much, but from the spring of 2009, the price is increasing again. Since china has house market, the price of house is increasing all ways, esp. from 2003-2007, most of cities whose prices of house are doubled in these five years. Now in Beijing the average price is about 15,000 RMB (1580eu) per square meter, in the common cities, such as capital cities in different provinces, the price is about 4000-6000RMB(420-630eu), in the small and middle cities, 2000-4000RMB(210-420eu).
Because of big population and huge economic developing rate, i don't think the price of house in China will be dropped very much like other countries. Some cities in China, even if in the situation of economic crisis, the price of house is still keeping the tendency of rise, never fall. But for most of Chinese, the price of house is too expensive, because the salary of Chinese is so low, the average salary in Chinese Cities is about 2000RMB, equals to 210eu, which is lower than European counties, I think. Sometimes, as a young man, if you need buy a house, you must use up all the money including your parents' savings and loan from bank to buy a house. In China, all the parents will help their children to buy house. I have some classmates who have already bought the house for marriage, which is paid by their parents. If you family is too poor to give you money, you must loan much from bank, and live hard life in the beginning.

22-06-09, 01:05 PM
Thank you for your very interesting post.

I had no idea about salaries in China? 210 euros is very low, almost like in Bulgaria.

But I hear people in big cities like Shanghai are making lots of money?

22-06-09, 01:41 PM
At first, I want say China is a developing country, most of people are very poor, esp. in some countryside and the west, some family must try their best to feed themselves. Only small part of people can earn lots of money in big cities, such as some stuff in foreign company, some managers, and government leaders. In China, in recent 20 years, the difference between people's income is becomeing very huge, for example, in Beijing, the lowest income is less than 100eu, but higher one can reach over 1000eu. Do you know there are more than 100 chinese cties, whose population are over 1 million, more than your capital Sofia, but in China, most of them are common cities, only over 5 million population cities, we call them "big city". In these common cities, the salary is rather low, just like some countries in Africa.
Frankly speaking, in Beijing and Shanghai, the salary could be higher than other places in China, I have a classmate, who works in CCTV, his salary is about 1000eu every month, but his salary is not universal in Beijing, and the most of people in beijing can earn 3000-5000RMB (300-550eu). Of course, when it comes to talk about salary level, you'd better consider the real purchasing power, I don't konw the price of your country, such as in China, I can spend about 0.5eu on buying a dozen of eggs, 1.5eu buy 1Kg pork, 4eu a kg of beef, 0.4eu dbuy 1kg rice, 0.2eu buy 1kg of potato, and 530eu to buy a lenovo notebook computer.
what about your homeland's price?

22-06-09, 01:56 PM
Thank you again for your interesting post robert. Really sorry to hear that salaries for most people are so low.

I watched a movie about China and they showed skyscrapes, modern cities etc....and after the Olympic Games I have the impression China was a highly developed and modern nation.

You can buy one kilo of patotoes here for 0.50 euros, a kilo of tomatoes is also 0.50 euros.

Summer is slightly easier to survive here, we have a garden with trees and don't have to buy cherries, apples and strawberries.

Salaries are very low here and people can't find jobs.

There is great corruption and ministers are connected with the mafia and together steal funds given to us from the European Union.

As a result, money was frozen. Ontop of it all came the Great depression with massive unemployment.

In China, if you live in Shanghai, is it easy to find a job now?

22-06-09, 02:24 PM
Not very easy, esp. this year, because of economic crisis, but maybe better than other countries in the world. A lot of grauates cannot find jobs, so some of whom want to continue their study, to get a master degree or even doctor degree. But if you have some technology, it's not difficult to find a job in China. For example, this year if your major is french, it's easy for you to be a university french teacher. In China, English is taught in grade three in primary school, but most of Chinese cannot speak English even graduate from colleges. other languages only can be learned in university. If you're good at mechinery and engeering, it's quite easy to find a job in factories. So in China a lot of students try their best to go into university, esp, some quite universities. In China, maybe different from other countries, a lot of young Students desire to be public servent, which is a very stable job and higher social status, but they must attend the exam, the rate of admission is 1.8%, which is called the most difficult exam in China.

22-06-09, 02:33 PM
Where did you study English? Must be very difficult for you.

22-06-09, 02:38 PM
in the middle school and university. frankly speaking, for Chinese and Janpese learning English is very difficult, because of quite difference between Chinese and european language. Not like your language is quite similar to English, at least composed by letters. so if your English is rather good to be interpreter in China, you can earn big money, some top translation in China can earn 150eu every hour. what about your English? what is your mother language?

22-06-09, 02:44 PM
I was born and raised in Bulgaria. I studied English in school.

I can understand Russian too without having to learn it.

Unfortunately Chineese is very difficult for us, one friend wanted to study it in university but failed :(

22-06-09, 02:50 PM
Russia is also very difficult to us. I think Bulgaria is connected with Russia, so a lot of eastern European countries can speak Russia. I want to Study French, which is similar to English, but I only can read and write, beacause of lacking language envrionment, though I have learned French for two years, I can't understand oral French.

22-06-09, 03:16 PM
I also wanted to learn to speak Chinese., but failed miserably at grammar and the different kinds on languages spoken in China. I tried my hands on Mandarin, but failed :(

I am quite fluent in English, German, French a bit of Italian.
I hardly can understand Russian or Bulgarian, it all sounds the same to me ;)

Guess if I say that out loud on some important square in Sofia I end up as a Cute Dead Guy :D

22-06-09, 03:20 PM
Italian? Wow, thats hot.

Do you watch rai? We have raiuno here on cable TV and I watch it but can't get much really.

22-06-09, 03:24 PM
I have like 999 channels to choose from, even Russian stuff.

Long live Digital Television :D

Italian is pretty much the same as French and Spanish. They are all interrelated, as they are all Latin Languages based on the early Roman Latin Alphabet.

Dutch and German are Germanic languages, based on Nordic grammar and writings. So very similar and very hard to learn.

Yes, I did had to teach it to people, so I did my homework :D

22-06-09, 03:26 PM
English is also Germanic, right?

22-06-09, 03:30 PM
English is Latin

22-06-09, 03:36 PM
I don't think so.

English belongs to the Germanic group of languages, more accurately West Germanic.

Dutch is in the same group along with German.

22-06-09, 03:38 PM
You are right.

Guess I was taught incorrectly :D

I stand corrected

22-06-09, 03:43 PM
No worries.

22-06-09, 04:31 PM
I learn from Linguistic book that English is Germanic, Chinese blongs to Sino-Tibetan. So English is very close to German, and Chinese is close to Tibetan.
Chinese have a lot of accents, in China people from north cannot understand people from South. Almost every provience has its own accent, and accents of northern proviences are similar, but south accents are quite different.

22-06-09, 05:40 PM
So what accent do you speak?

22-06-09, 06:26 PM
You are right.

Guess I was taught incorrectly :D

I stand corrected

Strictly speaking Meatpie is right - English is a Germanic language. The structure is fairly similar to German, and so are quite a lot words. But English has imported many words from the Celtic languages, from Scandinavian (thanks to the Vikings), from French, and from ancient Latin. So Entizha is not so wrong - I can understand many words in French and other Latin languages, perhaps more than in German. And we have many dialects - in the south and west it is mainly the accent that changes, but in the north there are different words too - often scandinavian words.

22-06-09, 06:48 PM
In the past all people on earth spoke one language.

Also, when I was a kid I watched movies in English I remember thinking what a horrible way of speech it was.

No offence meant, also I remember at school they made us recite poems in english and we also had to memorize the names of the months and then recite them before the class.

I got an excellent grade at that but later failed at a multiple choice test.