THE NOTARIES’ VERDICT
December 1st, 2008 — 11:43am
The notaries at the Black Sea reported that the number of deals have decreased sharply in comparison with last year. In the last 2 wees there have been days without a single purchase. The purchases for investment have almost stopped. Only people who need cash urgently sell. In such cases prices drop dramatically up to three times.
Purchases are made only of home to live. They have drop by 50% in Kavarna, while in Balchik by 10%. Concerning the plots of land, the tendency is similar. Only agricultural land sells. In some cases prices have fallen from 20 to 5 Euros per sq.m. due to the lack of buyers.