Mr. Iskrov, how does the situation in the country affect the real estate business? There is no generalized data to give directly a picture of the situation on this market at the moment. It is undisputed that political instability – blocked state institutions, dysfunctional parliament, protests with diverse demands – is a serious concern for people who should make investment particularly in the real estate sector. More important is the impact of this crisis on foreign investors who in recent years have been leading in the implementation of projects in the resort areas, the so-called “second home” sector.

I expect this instability to be resolved in the most acceptable to society and institutions way. After it fades away, I think that the situation on the market will return to its normal limits. In recent years leading on the real estate market are private investors looking for homes for their own needs. There is an outflow of investors in the office sector, in industrial estates. This particularly put in a very unfavorable and heavy situation part of the construction companies that in the years before the crisis had obtained building permissions for such sites and were working hard. Many of these buildings are now blocked by the current market situation.