Recently we conducted a survey among the visitors of our websites and among those who send us inquiries, totalling around 3.500 people. The survey was conducted between December 2008 and January 2009. We asked some basic but very valid questions, to which we received the following responses:
| Q1: How are you coping with the crisis? | |
| a) I am coping | 8% |
| b) It is hard | 22% |
| c) I am not coping | 65% |
| d) No answer | 5% |
| Q2: Are you considering alternatives? | |
| a) Taking a loan | 12% |
| b) Taking a 2nd mortgage | 8% |
| c) Selling off and leave | 60% |
| d) Moving abroad in another EU country | 63% |
| e) Moving elsewhere | 8% |
| Q3: What will make you relocate? | |
| a) Lower cost of living | 67% |
| b) Better quality of life | 75% |
| c) Better medical care | 45% |
| d) Better housing | 55% |
| e) More security | 52% |
| f) All the above together | 82% |
| Q4: Which of the following EU countries will you consider moving to? | |
| a) Cyprus | 5% |
| b) Spain | 4% |
| c) France | 6% |
| d) Greece | 2% |
| e) Bulgaria | 75% |
| f) Romania | 4% |
| g) Other – N/A | 4% |
| Q5: What kind of property will you consider as first choice? | |
| a) A house in a big city | 26% |
| b) A house near a big city | 32% |
| c) A flat in a big city | 14% |
| d) A flat near a big city | 6% |
| e) A house in the countryside | 34% |
| f) A flat in the countryside | 2% |
| g) A house in a holiday resort | 5% |
| h) A flat in a holiday resort | 3% |
| i) A house in a new luxury project | 63% |
| j) A flat in a new luxury project | 15% |
The above findings confirm our long-standing conclusion that Bulgaria can become the hottest destination for those seeking a good retirement and for younger families which are finding it difficult to cope in their own countries. The present and ongoing economic crisis will not diminish this new, substantial market segment, on the contrary, it will make it bigger and prolonged. What also came out of the survey is that the moment these people get the chance to release some equity or find buyers for their present properties, they will be on the move the following day.
All our planning and the nature of the lands that we keep in our ‘land bank’ have long been determined, having in mind this influx of people.
We are not the only institution to detect this exodus. One of the world giants in the insurance and investment business AXA in one of its recent reports, clearly states that they expect over 500.000 Britons to leave the British coast in 2009 and move mainly to Bulgaria. Our survey has also covered other countries of the EU, including France, Germany and the Nordic Countries.
Summing up, we are very confident of the future and of our own potentials to generate new business and to realize our plans. Time, we are certain, will confirm our optimism!