Bulgarian Property Market – An Overview
In the next four to five months the property price drop in Bulgaria will be much of smaller scale, according to analysts. After that the property market will hit the bottom.
According to the statistics, the property prices in Sofia drop slower in the last months. In February the price drop was of 6.88 % while in August it was 3.84%. The slowing down of the recession can be also seen in the rents . In May the rents in Sofia were by 2.8% lower than in April, while in June they were by 1.9% lower than in May and in July by 1,6% lower than in May. In the end of August the price drop was only by 0.6 in comparison with July.
The same tendency can be observed in the other major Bulgarian towns.
The developers in Bulgaria still find it very hard to sell. Those at the Black Sea coast claim that they mainly rely on buyers from Russia who look for finished apartments, positioned right on the sea coast, close to the beaches.
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Category: Bulgaria, Property | Tags: apartments, Black Sea coast, price drop, property in Bulgaria, Russian buyers Comment »