Property Market In Bulgaria – Update
The prices of properties on the Bulgarian Black Sea coast have dropped by 15-30% while those of inland properties by almost 70%.
Newly built apartments sell for 390 Euros per sq m. In Sunny Beach there are completed apartments for sale for 20-30 000 Euros, which is below their value.
Properties in the big cities like Sofia, Plovdiv, Varna and Burgas have dropped their prices by 30%.
Some analysts claim that the buyers now come mostly from Russia and the former Soviet republics and that there is no recession on the property market in Bulgaria but just restructuring. The quality properties keep their prices while the low quality ones sell at their real price which is a positive tendency, according to them. The Russians mostly buy luxury properties on the northern Black Sea coast at prices exceeding 250 000 Euros. The interest towards mountain resorts has decreased.
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Category: Bulgaria, Property | Tags: Burgas, mountain resorts, plovdiv, price drop, properties in bulgaria, properties on the Black Sea, property prices in Bulgaria, Sofia, varna Comment »