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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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France: Market slump is now everywhereJust six months ago different segments of the real estate market in France were still moving in opposite direction. Not anymore. The slump reached all segments as well as indiscriminately the old and new construction. The capital city of Paris is no longer an exception in the general trend. Not so fast and not so brutal, but the sales fall there too. The national market attained low sales not registered since the mid 1990s. The activity has fallen by up to 35 pct in some areas; the prices are expected to fall by up to 10 pct in the following year. And this is conservative estimate. The new real estate crisis is real. In many European countries, where several made fortunes on the real estate appreciation in the last few years, the properties are getting cheaper with every month passing. Among them, France, a key European nation, has seen its market reaching historic heights by 2007. Now, officially, it's over. Paris, for a longtime considered being safe investment, is now joining of the regions. Some coastal areas, also for a longtime considered being safe investment, aren't doing much better. The slump in these 'safe' locations isn't so fast and brutal, but nevertheless it's as real as anywhere else. The main causes for the market 'correction' in France are very similar, if not identical, to those cited in other countries from both sides of the Atlantic. People in France say that the market levels are very high for their budgets; that the general purchasing power is down, making other spending higher priority; finally, the interest rates are generally up, even after some recent easing. As a result, more and more among those that express some willingness to buy finally renounce to confirm their intentions. There is something more than just material factors playing. The mood of the potential buyers has changed radically since 2007. People feel uncertainty, express doubts, and prefer waiting and seeing how the market will go further. And it goes down like a self-fulfilling prophecy. An additional uncertainty comes from the governmental activity; after a year in office and the presidential and governmental mea culpa, nobody knows exactly what the new political priorities might be. And the government in France, unlike in some other western countries, has enormous potential to influence market forces in both directions.
France country profile
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See also the directory of companies providing real estate services in, and general real estate information of France.
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