DECREASE OF PROPERTY PURCHASES
The number of property purchases in Bulgaria has decreased by 40% in 2008 in comparison with 2007, and in the mountain ski resorts like Bansko, Pamporovo and Borovets it has reached a decrease by 80%, while at the Black Sea cost it is significantly less – by 30%. This has lead to a price drop and in the resorts currently there are very cheap properties on offer.
At the same time in Sofia the decrease in the number of purchases is 33%, while in Plovdiv it is 50%. The smallest decrease is in Vidin, where it is only 15% in comparison with 2007.
This is mainly due to the recession in the last three months of 2008. Until October 2008 the purchase prices have been on average 26% higher than the ones in 2007. The the market virtually went dead and it has not been possible to make real statistics of the prices, in some cases prices were 20% lower than in 2007.
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Category: Bulgaria, Property | Tags: legal advice, prices, property in Bulgaria, resorts, sea, ski, tendencies Comment »